FirstEnergy (FE) Short Interest Update

FirstEnergy (NYSE:FE) saw a large growth in short interest in March. As of March 29th, there was short interest totalling 35,004,854 shares, a growth of 19.3% from the March 15th total of 29,345,810 shares. Currently, 7.4% of the shares of the company are sold short. Based on an average daily volume of 7,802,894 shares, the short-interest ratio is currently 4.5 days.

Shares of NYSE FE opened at $34.41 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 5.38. FirstEnergy has a 12 month low of $27.93 and a 12 month high of $35.22. The company has a market cap of $16,212.86, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 14.40 and a beta of 0.26.

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FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. FirstEnergy had a negative net margin of 12.30% and a positive return on equity of 24.02%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. equities research analysts forecast that FirstEnergy will post 2.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, May 4th. FirstEnergy’s payout ratio is 46.91%.

A number of analysts recently commented on FE shares. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, January 2nd. Wolfe Research upgraded shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a research note on Monday, January 29th. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $32.09 to $36.00 in a research note on Friday, January 26th. Morgan Stanley set a $35.00 target price on shares of FirstEnergy and gave the stock a “buy” rating in a research note on Thursday, March 8th. Finally, Guggenheim reiterated a “buy” rating and issued a $47.00 target price on shares of FirstEnergy in a research note on Wednesday, January 3rd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $35.38.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Elkfork Partners LLC acquired a new stake in FirstEnergy during the 4th quarter valued at approximately $574,000. Envestnet Asset Management Inc. lifted its stake in FirstEnergy by 20.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,698 shares of the utilities provider’s stock valued at $420,000 after acquiring an additional 2,323 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in FirstEnergy by 151.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 310,008 shares of the utilities provider’s stock valued at $9,492,000 after acquiring an additional 186,743 shares during the period. Sawtooth Solutions LLC lifted its stake in FirstEnergy by 276.6% during the 4th quarter. Sawtooth Solutions LLC now owns 40,446 shares of the utilities provider’s stock valued at $1,239,000 after acquiring an additional 29,705 shares during the period. Finally, Banco de Sabadell S.A acquired a new stake in FirstEnergy during the 4th quarter valued at approximately $4,644,000. Institutional investors and hedge funds own 78.75% of the company’s stock.

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About FirstEnergy

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

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