TD Private Client Wealth LLC Boosts Holdings in FirstEnergy Corporation $FE

TD Private Client Wealth LLC lifted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 23.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,910 shares of the utilities provider’s stock after acquiring an additional 18,862 shares during the period. TD Private Client Wealth LLC’s holdings in FirstEnergy were worth $4,532,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FE. State of Wyoming acquired a new position in FirstEnergy during the second quarter worth approximately $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of FirstEnergy in the 2nd quarter valued at $26,000. Investment Research & Advisory Group Inc. purchased a new stake in shares of FirstEnergy during the 2nd quarter valued at $26,000. Capital Advisors Ltd. LLC increased its holdings in shares of FirstEnergy by 186.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after buying an additional 440 shares during the last quarter. Finally, American National Bank & Trust raised its position in shares of FirstEnergy by 380.2% in the 3rd quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock worth $27,000 after buying an additional 460 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 1.2%

NYSE FE opened at $45.29 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20. The business has a 50 day moving average price of $45.42 and a two-hundred day moving average price of $44.30. The stock has a market cap of $26.16 billion, a PE ratio of 19.78, a P/E/G ratio of 2.56 and a beta of 0.64.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, sell-side analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, February 6th. FirstEnergy’s dividend payout ratio is presently 77.73%.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of research reports. Jefferies Financial Group boosted 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. Citigroup assumed coverage on FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price objective on the stock. Scotiabank increased their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. UBS Group cut their price target on shares of FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Finally, KeyCorp downgraded shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.75.

FirstEnergy Company 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.