denkapparat Operations GmbH Purchases 12,824 Shares of FirstEnergy Corporation $FE

denkapparat Operations GmbH increased its position in shares of FirstEnergy Corporation (NYSE:FE) by 49.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,572 shares of the utilities provider’s stock after buying an additional 12,824 shares during the quarter. FirstEnergy comprises about 0.6% of denkapparat Operations GmbH’s portfolio, making the stock its 23rd biggest position. denkapparat Operations GmbH’s holdings in FirstEnergy were worth $1,834,000 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 FE. Concurrent Investment Advisors LLC raised its position in shares of FirstEnergy by 8.6% during the second quarter. Concurrent Investment Advisors LLC now owns 22,808 shares of the utilities provider’s stock worth $1,084,000 after purchasing an additional 1,798 shares during the period. NEOS Investment Management LLC grew its position in FirstEnergy by 2.1% in the 2nd quarter. NEOS Investment Management LLC now owns 85,616 shares of the utilities provider’s stock valued at $4,070,000 after purchasing an additional 1,762 shares during the period. AXQ Capital LP bought a new stake in FirstEnergy during the 2nd quarter valued at $1,977,000. iSAM Funds UK Ltd bought a new stake in FirstEnergy during the 2nd quarter valued at $889,000. Finally, Nykredit A S bought a new stake in FirstEnergy during the 2nd quarter valued at $1,033,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 1.5%

FE opened at $46.98 on Friday. FirstEnergy Corporation has a fifty-two week low of $42.87 and a fifty-two week high of $52.34. The firm has a market capitalization of $27.18 billion, a P/E ratio of 24.99, a PEG ratio of 2.67 and a beta of 0.45. The company’s 50-day moving average is $47.78 and its 200 day moving average is $48.24. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the firm posted $0.52 EPS. Research analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were given a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, August 7th. FirstEnergy’s dividend payout ratio is currently 98.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Barclays cut their price target on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Weiss Ratings downgraded FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. UBS Group raised their target price on FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and cut their target price for the company from $56.00 to $53.00 in a research report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.83.

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.