FirstEnergy Corporation $FE Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC raised its position in FirstEnergy Corporation (NYSE:FE) by 2,268.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,491 shares of the utilities provider’s stock after purchasing an additional 115,404 shares during the quarter. CoreCap Advisors LLC’s holdings in FirstEnergy were worth $5,728,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State of Wyoming purchased a new position in shares of FirstEnergy in the 2nd quarter valued at $25,000. Axiom Investment Management LLC purchased a new position in FirstEnergy in the first quarter valued at about $26,000. DV Equities LLC purchased a new position in FirstEnergy in the fourth quarter valued at about $33,000. Quest 10 Wealth Builders Inc. lifted its stake in shares of FirstEnergy by 507.9% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 640 shares in the last quarter. Finally, Summit Securities Group LLC lifted its stake in shares of FirstEnergy by 148.0% during the fourth quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 2,376 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. TD Cowen upgraded FirstEnergy from a “hold” rating to a “buy” rating and dropped their target price for the company from $56.00 to $53.00 in a report on Friday, May 15th. Wolfe Research cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group increased their price objective on shares of FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research report on Wednesday, July 22nd. Finally, UBS Group upped their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.83.

FirstEnergy Stock Down 1.0%

Shares of FE stock opened at $47.80 on Thursday. FirstEnergy Corporation has a one year low of $42.72 and a one year high of $52.34. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. The stock has a fifty day moving average price of $47.68 and a 200 day moving average price of $48.32. The stock has a market cap of $27.66 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same quarter in the prior year, the company posted $0.52 EPS. Analysts predict that FirstEnergy Corporation will post 2.73 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a $0.465 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 annualized dividend and a dividend yield of 3.9%. FirstEnergy’s dividend payout ratio is presently 98.94%.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.