Miles Capital Inc. raised its stake in FirstEnergy Corp. (NYSE:FE) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,455 shares of the utilities provider’s stock after purchasing an additional 445 shares during the period. Miles Capital Inc.’s holdings in FirstEnergy were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pearl River Capital LLC acquired a new stake in FirstEnergy in the second quarter worth about $25,000. Clean Yield Group lifted its holdings in shares of FirstEnergy by 1,184.0% during the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the period. Horan Securities Inc. acquired a new stake in shares of FirstEnergy during the second quarter worth about $28,000. Meeder Asset Management Inc. lifted its holdings in shares of FirstEnergy by 805.3% during the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 604 shares during the period. Finally, Zions Bancorporation N.A. acquired a new stake in shares of FirstEnergy during the first quarter worth about $30,000. Institutional investors own 94.32% of the company’s stock.
A number of equities research analysts recently commented on FE shares. Zacks Investment Research downgraded FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a report on Tuesday, July 2nd. KeyCorp reaffirmed an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a report on Wednesday, June 5th. TheStreet downgraded FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. Finally, Mizuho decreased their target price on FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. FirstEnergy currently has a consensus rating of “Buy” and a consensus price target of $44.00.
FE stock traded down $0.21 during trading on Friday, hitting $47.42. 72,817 shares of the company traded hands, compared to its average volume of 3,794,280. The stock’s 50-day simple moving average is $45.00 and its 200 day simple moving average is $42.79. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. The company has a market cap of $25.70 billion, a PE ratio of 18.25, a P/E/G ratio of 3.12 and a beta of 0.21. FirstEnergy Corp. has a 1 year low of $35.33 and a 1 year high of $48.10.
FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. FirstEnergy’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. Research analysts expect that FirstEnergy Corp. will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Tuesday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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