Investors Sell FirstEnergy (FE) on Strength (FE)

Traders sold shares of FirstEnergy Corp. (NYSE:FE) on strength during trading hours on Friday. $13.04 million flowed into the stock on the tick-up and $39.05 million flowed out of the stock on the tick-down, for a money net flow of $26.01 million out of the stock. Of all companies tracked, FirstEnergy had the 25th highest net out-flow for the day. FirstEnergy traded up $0.30 for the day and closed at $38.00

A number of research analysts have commented on the company. Bank of America upped their price target on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 29th. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, October 10th. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Citigroup upped their price target on FirstEnergy from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. Finally, Morgan Stanley lowered their price target on FirstEnergy from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, September 21st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. FirstEnergy has a consensus rating of “Buy” and an average price target of $39.90.

The stock has a market capitalization of $19.16 billion, a PE ratio of 12.38, a P/E/G ratio of 2.46 and a beta of 0.24. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 2.44.

FirstEnergy (NYSE:FE) last announced its earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.82 billion. As a group, equities analysts anticipate that FirstEnergy Corp. will post 2.54 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Tuesday, November 6th. FirstEnergy’s dividend payout ratio is currently 46.91%.

Several large investors have recently made changes to their positions in FE. Renaissance Technologies LLC increased its position in FirstEnergy by 23.1% during the 2nd quarter. Renaissance Technologies LLC now owns 12,007,408 shares of the utilities provider’s stock valued at $431,186,000 after buying an additional 2,251,708 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in FirstEnergy by 4.9% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 203,333 shares of the utilities provider’s stock valued at $7,302,000 after buying an additional 9,466 shares in the last quarter. Achmea Investment Management B.V. increased its position in FirstEnergy by 21.3% during the 2nd quarter. Achmea Investment Management B.V. now owns 126,776 shares of the utilities provider’s stock valued at $4,552,000 after buying an additional 22,287 shares in the last quarter. Employees Retirement System of Texas increased its position in FirstEnergy by 206.1% during the 2nd quarter. Employees Retirement System of Texas now owns 65,346 shares of the utilities provider’s stock valued at $2,347,000 after buying an additional 44,000 shares in the last quarter. Finally, Bank of Montreal Can increased its position in FirstEnergy by 9.8% during the 3rd quarter. Bank of Montreal Can now owns 705,256 shares of the utilities provider’s stock valued at $26,215,000 after buying an additional 63,208 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

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FirstEnergy Company Profile (NYSE:FE)

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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