FirstEnergy Corp. (NYSE:FE) Shares Acquired by Navalign LLC

Navalign LLC raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,311 shares of the utilities provider’s stock after purchasing an additional 998 shares during the period. Navalign LLC’s holdings in FirstEnergy were worth $739,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bryn Mawr Capital Management LLC boosted its stake in FirstEnergy by 6.4% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 203,874 shares of the utilities provider’s stock valued at $7,802,000 after purchasing an additional 12,328 shares during the period. Searle & CO. acquired a new position in FirstEnergy during the 2nd quarter valued at about $273,000. Hantz Financial Services Inc. acquired a new position in FirstEnergy during the 2nd quarter valued at about $123,000. Moloney Securities Asset Management LLC acquired a new position in FirstEnergy during the 2nd quarter valued at about $330,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of FirstEnergy in the 2nd quarter worth approximately $185,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Scotiabank upped their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley boosted their target price on shares of FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, KeyCorp boosted their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.27.

FirstEnergy Stock Up 0.7 %

NYSE:FE traded up $0.31 during trading hours on Friday, reaching $43.92. The company’s stock had a trading volume of 2,882,519 shares, compared to its average volume of 2,941,971. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $44.07. The business’s 50-day moving average is $40.74 and its 200-day moving average is $39.20. The company has a market cap of $25.28 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 2.34 and a beta of 0.49. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Equities research analysts predict that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.87%. FirstEnergy’s dividend payout ratio is currently 97.70%.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.