NewSquare Capital LLC Has $1.50 Million Stake in FirstEnergy Corp. (FE)

NewSquare Capital LLC grew its position in FirstEnergy Corp. (NYSE:FE) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,241 shares of the utilities provider’s stock after acquiring an additional 2,968 shares during the period. NewSquare Capital LLC’s holdings in FirstEnergy were worth $1,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FE. Reilly Financial Advisors LLC lifted its stake in shares of FirstEnergy by 285.8% during the 2nd quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after buying an additional 2,132 shares during the last quarter. Private Capital Group LLC lifted its stake in shares of FirstEnergy by 1,890.7% during the 1st quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock worth $102,000 after buying an additional 2,836 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in shares of FirstEnergy during the 3rd quarter worth about $114,000. IMA Wealth Inc. acquired a new stake in shares of FirstEnergy during the 2nd quarter worth about $180,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of FirstEnergy during the 2nd quarter worth about $189,000. 94.59% of the stock is owned by institutional investors.

Shares of FirstEnergy stock opened at $38.85 on Friday. FirstEnergy Corp. has a twelve month low of $29.33 and a twelve month high of $38.99. The company has a quick ratio of 0.41, a current ratio of 0.47 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $18.50 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 2.55 and a beta of 0.29.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.09. FirstEnergy had a negative net margin of 4.60% and a positive return on equity of 24.39%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the company earned $0.61 EPS. As a group, equities research analysts expect that FirstEnergy Corp. will post 2.49 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.71%. The ex-dividend date is Tuesday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.

A number of research firms have recently issued reports on FE. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, October 10th. ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Citigroup raised their target price on shares of FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Morgan Stanley cut their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, September 21st. Finally, Wells Fargo & Co restated a “buy” rating and set a $42.00 target price (up previously from $41.00) on shares of FirstEnergy in a research note on Monday, September 17th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $39.70.

FirstEnergy Profile

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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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