LWM Advisory Services LLC Lowers Stock Position in FirstEnergy Corp. (NYSE:FE)

LWM Advisory Services LLC reduced its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,932 shares of the utilities provider’s stock after selling 937 shares during the period. LWM Advisory Services LLC’s holdings in FirstEnergy were worth $418,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Advisory Services Inc. acquired a new stake in FirstEnergy in the second quarter valued at $257,000. DekaBank Deutsche Girozentrale lifted its stake in shares of FirstEnergy by 2.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 85,459 shares of the utilities provider’s stock valued at $3,279,000 after purchasing an additional 2,243 shares during the period. Forsta AP Fonden grew its position in FirstEnergy by 0.5% during the second quarter. Forsta AP Fonden now owns 122,700 shares of the utilities provider’s stock worth $4,696,000 after buying an additional 600 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of FirstEnergy during the 2nd quarter valued at approximately $104,000. Finally, Qsemble Capital Management LP boosted its stake in shares of FirstEnergy by 72.8% during the 2nd quarter. Qsemble Capital Management LP now owns 16,982 shares of the utilities provider’s stock worth $650,000 after acquiring an additional 7,156 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays raised their price objective on FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upped their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Scotiabank boosted their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley raised their price objective on FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.50.

FirstEnergy Stock Up 0.9 %

Shares of NYSE FE opened at $44.47 on Friday. The stock has a fifty day moving average price of $42.03 and a 200 day moving average price of $39.74. The company has a market cap of $25.61 billion, a P/E ratio of 25.56, a P/E/G ratio of 2.32 and a beta of 0.50. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $44.97. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same period last year, the business posted $0.47 EPS. Research analysts anticipate that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.425 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.82%. FirstEnergy’s 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.