True Wealth Design LLC Buys 640 Shares of FirstEnergy Corp. (NYSE:FE)

True Wealth Design LLC increased its stake in shares of FirstEnergy Corp. (NYSE:FE) by 4,571.4% during the 3rd quarter, Holdings Channel reports. The fund owned 654 shares of the utilities provider’s stock after acquiring an additional 640 shares during the period. True Wealth Design LLC’s holdings in FirstEnergy were worth $29,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new position in shares of FirstEnergy during the third quarter valued at about $26,000. Strategic Investment Solutions Inc. IL acquired a new position in FirstEnergy during the 2nd quarter worth approximately $32,000. West Oak Capital LLC bought a new position in FirstEnergy in the second quarter worth approximately $38,000. Ashton Thomas Private Wealth LLC bought a new position in FirstEnergy in the second quarter worth approximately $38,000. Finally, Sachetta LLC increased its holdings in shares of FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 246 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Down 2.3 %

Shares of NYSE:FE opened at $41.59 on Tuesday. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The company has a market capitalization of $23.97 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. The business has a fifty day moving average price of $42.74 and a two-hundred day moving average price of $41.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.05). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. Analysts forecast that FirstEnergy Corp. will post 2.67 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were paid a $0.425 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 4.09%. FirstEnergy’s payout ratio is 109.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FE shares. Jefferies Financial Group initiated coverage on FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 target price on the stock. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, September 20th. Morgan Stanley decreased their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Barclays raised their target price on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.91.

FirstEnergy 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.