FirstEnergy Corporation $FE Shares Bought by MGO One Seven LLC

MGO One Seven LLC lifted its holdings in FirstEnergy Corporation (NYSE:FE) by 74.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,338 shares of the utilities provider’s stock after acquiring an additional 11,234 shares during the quarter. MGO One Seven LLC’s holdings in FirstEnergy were worth $1,207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in FirstEnergy during the third quarter valued at about $169,000. Oregon Public Employees Retirement Fund raised its holdings in shares of FirstEnergy by 33.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 59,389 shares of the utilities provider’s stock valued at $2,721,000 after acquiring an additional 15,038 shares during the period. Benjamin Edwards Inc. lifted its position in shares of FirstEnergy by 25.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 21,232 shares of the utilities provider’s stock valued at $973,000 after acquiring an additional 4,293 shares in the last quarter. HB Wealth Management LLC boosted its stake in FirstEnergy by 16.6% in the 3rd quarter. HB Wealth Management LLC now owns 12,522 shares of the utilities provider’s stock worth $574,000 after purchasing an additional 1,779 shares during the period. Finally, Spire Wealth Management boosted its stake in FirstEnergy by 21.7% in the 3rd quarter. Spire Wealth Management now owns 20,586 shares of the utilities provider’s stock worth $943,000 after purchasing an additional 3,676 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of research analyst reports. UBS Group reduced their target price on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Jefferies Financial Group upped their price target on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of FirstEnergy in a research report on Monday, December 29th. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Finally, Mizuho increased their price target on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, FirstEnergy currently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

FirstEnergy Price Performance

NYSE FE opened at $46.54 on Friday. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $48.20. The company has a fifty day simple moving average of $45.44 and a 200 day simple moving average of $44.33. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80. The company has a market cap of $26.89 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.64 and a beta of 0.64.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. On average, sell-side analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is currently 77.73%.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.