SG Americas Securities LLC Raises Position in FirstEnergy Corp. (NYSE:FE)

SG Americas Securities LLC boosted its stake in FirstEnergy Corp. (NYSE:FE) by 17.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,022 shares of the utilities provider’s stock after buying an additional 26,895 shares during the quarter. SG Americas Securities LLC’s holdings in FirstEnergy were worth $8,586,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its stake in FirstEnergy by 2,004.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock worth $627,531,000 after purchasing an additional 13,961,923 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in FirstEnergy by 880.7% in the 2nd quarter. Magellan Asset Management Ltd now owns 4,139,429 shares of the utilities provider’s stock worth $177,209,000 after purchasing an additional 3,717,332 shares in the last quarter. Reaves W H & Co. Inc. purchased a new position in FirstEnergy in the 2nd quarter worth approximately $43,975,000. Vanguard Group Inc. lifted its stake in FirstEnergy by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 65,113,979 shares of the utilities provider’s stock worth $2,787,529,000 after purchasing an additional 783,467 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. purchased a new position in FirstEnergy in the 2nd quarter worth approximately $29,539,000. 94.22% of the stock is currently owned by hedge funds and other institutional investors.

FE has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of FirstEnergy from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America lowered shares of FirstEnergy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. They noted that the move was a valuation call. ValuEngine lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet lowered shares of FirstEnergy from a “b” rating to a “f” rating in a research note on Thursday, July 18th. Finally, Mizuho lowered shares of FirstEnergy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $48.00 to $48.50 in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.36.

Shares of NYSE FE traded down $0.13 during midday trading on Friday, reaching $46.59. 4,143,624 shares of the stock were exchanged, compared to its average volume of 4,246,722. The company has a 50 day simple moving average of $47.93 and a 200 day simple moving average of $44.75. The stock has a market capitalization of $25.23 billion, a P/E ratio of 17.99, a PEG ratio of 3.13 and a beta of 0.18. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.53 and a current ratio of 0.62. FirstEnergy Corp. has a twelve month low of $35.33 and a twelve month high of $49.07.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.91 billion. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. On average, research analysts expect that FirstEnergy Corp. will post 2.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.26%. FirstEnergy’s dividend payout ratio is currently 58.69%.

FirstEnergy Profile

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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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