17,852 Shares in FirstEnergy Corporation $FE Acquired by Trivium Point Advisory LLC

Trivium Point Advisory LLC bought a new position in shares of FirstEnergy Corporation (NYSE:FE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,852 shares of the utilities provider’s stock, valued at approximately $849,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in shares of FirstEnergy during the second quarter worth $25,000. Axiom Investment Management LLC purchased a new position in FirstEnergy in the first quarter valued at $26,000. DV Equities LLC purchased a new position in FirstEnergy in the fourth quarter valued at $33,000. Quest 10 Wealth Builders Inc. grew its stake in FirstEnergy by 507.9% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 640 shares in the last quarter. Finally, Summit Securities Group LLC grew its stake in FirstEnergy by 148.0% during the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 2,376 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE:FE opened at $47.42 on Monday. The firm has a market capitalization of $27.44 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.46. The business’s fifty day moving average price is $47.85 and its 200 day moving average price is $48.32. 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 Corporation has a 12 month low of $42.72 and a 12 month high of $52.34.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.51 billion. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.During the same period last year, the firm earned $0.52 earnings per share. On average, sell-side analysts anticipate that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is 98.94%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FE shares. Weiss Ratings lowered FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Jefferies Financial Group boosted their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. Wells Fargo & Company restated an “overweight” rating and set a $55.00 target price on shares of FirstEnergy in a research note on Tuesday, April 21st. TD Cowen raised shares of FirstEnergy from a “hold” rating to a “buy” rating and reduced their target price for the company from $56.00 to $53.00 in a report on Friday, May 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of FirstEnergy in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

About FirstEnergy

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.