Semmax Financial Advisors Inc. raised its position in FirstEnergy Corp. (NYSE:FE) by 119.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,163 shares of the utilities provider’s stock after buying an additional 15,334 shares during the period. Semmax Financial Advisors Inc.’s holdings in FirstEnergy were worth $1,206,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FE. Clean Yield Group boosted its position in shares of FirstEnergy by 1,184.0% in the 2nd quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the last quarter. Horan Securities Inc. bought a new position in shares of FirstEnergy in the 2nd quarter worth $28,000. Meeder Asset Management Inc. lifted its holdings in FirstEnergy by 805.3% during the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 604 shares in the last quarter. Zions Bancorporation N.A. bought a new position in FirstEnergy during the first quarter worth about $30,000. Finally, Destination Wealth Management bought a new position in FirstEnergy during the first quarter worth about $35,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.

In other news, Director Christopher D. Pappas purchased 3,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average price of $41.14 per share, with a total value of $123,420.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Several research analysts have weighed in on the company. KeyCorp reiterated an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a report on Wednesday, June 5th. Mizuho reduced their target price on FirstEnergy from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Zacks Investment Research lowered FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Tuesday, July 2nd. Finally, TheStreet lowered FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $44.00.

FE stock traded down $0.71 during midday trading on Friday, hitting $44.99. 2,867,912 shares of the company’s stock were exchanged, compared to its average volume of 4,968,595. The stock’s fifty day moving average price is $44.02 and its 200-day moving average price is $42.16. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.53 and a current ratio of 0.60. The company has a market cap of $24.68 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. FirstEnergy Corp. has a one year low of $35.33 and a one year high of $45.90.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts expect that FirstEnergy Corp. will post 2.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Tuesday, August 6th. FirstEnergy’s dividend payout ratio is 58.69%.

FirstEnergy Profile

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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