FirstEnergy Corp. (NYSE:FE) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. lessened its position in shares of FirstEnergy Corp. (NYSE:FE) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,102 shares of the utilities provider’s stock after selling 235 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in FirstEnergy were worth $714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in FirstEnergy by 14.3% during the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock worth $3,009,615,000 after purchasing an additional 9,773,785 shares during the last quarter. Boston Partners lifted its position in shares of FirstEnergy by 2.3% during the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after buying an additional 218,165 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of FirstEnergy by 0.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock valued at $344,908,000 after buying an additional 82,482 shares in the last quarter. First Pacific Advisors LP grew its position in shares of FirstEnergy by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock valued at $136,152,000 after buying an additional 69,512 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in FirstEnergy by 7.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock worth $104,288,000 after acquiring an additional 193,540 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the subject of several research reports. Morgan Stanley boosted their target price on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. 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 research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, September 20th. Finally, Bank of America boosted their target price on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.82.

FirstEnergy Price Performance

FirstEnergy stock opened at $43.17 on Tuesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51. FirstEnergy Corp. has a one year low of $34.73 and a one year high of $44.97. The company has a market cap of $24.85 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.50. The business has a fifty day moving average of $43.40 and a two-hundred day moving average of $40.61.

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

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.94%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is currently 97.70%.

FirstEnergy Company Profile

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.