Wagner Bowman Management Corp decreased its stake in FirstEnergy Corp. (NYSE:FE) by 28.6% during the second quarter, Holdings Channel reports. The firm owned 7,819 shares of the company’s stock after selling 3,132 shares during the period. Wagner Bowman Management Corp’s holdings in FirstEnergy Corp. were worth $272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charter Trust Co. raised its position in shares of FirstEnergy Corp. by 0.6% in the second quarter. Charter Trust Co. now owns 17,689 shares of the company’s stock valued at $618,000 after buying an additional 100 shares during the period. Pure Financial Advisors Inc. raised its position in shares of FirstEnergy Corp. by 1.1% in the second quarter. Pure Financial Advisors Inc. now owns 13,296 shares of the company’s stock valued at $464,000 after buying an additional 142 shares during the period. Checchi Capital Advisers LLC raised its position in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock valued at $160,000 after buying an additional 281 shares during the period. BB&T Securities LLC raised its position in shares of FirstEnergy Corp. by 9.4% in the first quarter. BB&T Securities LLC now owns 6,907 shares of the company’s stock valued at $248,000 after buying an additional 595 shares during the period. Finally, Eqis Capital Management Inc. raised its position in shares of FirstEnergy Corp. by 8.1% in the second quarter. Eqis Capital Management Inc. now owns 9,163 shares of the company’s stock valued at $320,000 after buying an additional 686 shares during the period. 75.93% of the stock is owned by institutional investors.

Shares of FirstEnergy Corp. (NYSE:FE) traded up 2.46% during trading on Wednesday, hitting $34.57. 3,175,065 shares of the stock were exchanged. FirstEnergy Corp. has a 12-month low of $28.89 and a 12-month high of $36.60. The firm has a 50 day moving average of $32.92 and a 200-day moving average of $34.17. The company’s market cap is $14.70 billion.

FirstEnergy Corp. (NYSE:FE) last posted its earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a negative net margin of 3.96% and a positive return on equity of 10.05%. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, analysts forecast that FirstEnergy Corp. will post $2.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is presently -103.60%.

Several research analysts have recently commented on the stock. Barclays PLC set a $36.00 price objective on shares of FirstEnergy Corp. and gave the company a “hold” rating in a research note on Saturday. Goldman Sachs Group Inc. lowered shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $36.00 to $31.00 in a research note on Tuesday, July 26th. Jefferies Group raised their price objective on shares of FirstEnergy Corp. from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, July 7th. Bank of America Corp. raised shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $41.00 to $40.00 in a research note on Monday, August 8th. Finally, Morgan Stanley raised shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $41.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $35.82.

About FirstEnergy Corp.

FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.

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