Trexquant Investment LP acquired a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 81,396 shares of the utilities provider’s stock, valued at approximately $2,923,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FE. Private Capital Group LLC increased its position in FirstEnergy by 1,890.7% during the 1st quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 2,836 shares in the last quarter. Reilly Financial Advisors LLC increased its position in FirstEnergy by 285.8% during the 2nd quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 2,132 shares in the last quarter. IMA Wealth Inc. acquired a new stake in FirstEnergy during the 2nd quarter worth approximately $180,000. Piedmont Investment Advisors LLC acquired a new stake in FirstEnergy during the 2nd quarter worth approximately $189,000. Finally, Signition LP acquired a new stake in FirstEnergy during the 1st quarter worth approximately $204,000. 93.36% of the stock is owned by institutional investors.

FE has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of FirstEnergy from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Mizuho raised shares of FirstEnergy from a “neutral” rating to a “buy” rating in a research report on Monday, May 7th. Finally, Wells Fargo & Co raised shares of FirstEnergy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $27.93 to $34.30 in a research report on Monday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $37.57.

NYSE FE opened at $37.30 on Friday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 2.46 and a beta of 0.24. FirstEnergy Corp. has a fifty-two week low of $29.33 and a fifty-two week high of $37.52. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.47 and a quick ratio of 0.41.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.09. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. FirstEnergy had a positive return on equity of 24.39% and a negative net margin of 4.60%. During the same quarter in the prior year, the business earned $0.61 EPS. sell-side analysts forecast that FirstEnergy Corp. will post 2.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Tuesday, August 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, August 6th. FirstEnergy’s dividend payout ratio is presently 46.91%.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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