FirstEnergy Corp. (NYSE:FE) Shares Bought by Wexford Capital LP

Wexford Capital LP grew its stake in FirstEnergy Corp. (NYSE:FE) by 320.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,237 shares of the utilities provider’s stock after purchasing an additional 49,737 shares during the quarter. Wexford Capital LP’s holdings in FirstEnergy were worth $2,893,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Livelsberger Financial Advisory purchased a new position in FirstEnergy in the 3rd quarter valued at $26,000. True Wealth Design LLC lifted its stake in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in FirstEnergy during the second quarter worth about $32,000. Quarry LP boosted its position in FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 320 shares during the last quarter. Finally, Sachetta LLC grew its stake in FirstEnergy by 36.0% during the 2nd 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. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $41.35 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The stock has a market capitalization of $23.83 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51. The business has a 50-day moving average of $42.55 and a 200 day moving average of $41.55. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97.

FirstEnergy (NYSE:FE) last announced its 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 business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, sell-side analysts forecast that FirstEnergy Corp. will post 2.67 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 4.11%. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

Analysts Set New Price Targets

FE has been the topic of several recent research reports. Scotiabank boosted their target price on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. KeyCorp dropped their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays boosted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley reduced their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.82.

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.