Pacer Advisors Inc. Sells 15,155 Shares of FirstEnergy Corporation $FE

Pacer Advisors Inc. cut its stake in shares of FirstEnergy Corporation (NYSE:FE) by 24.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,383 shares of the utilities provider’s stock after selling 15,155 shares during the period. Pacer Advisors Inc.’s holdings in FirstEnergy were worth $2,400,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. LFG Wealth Partners LLC increased its holdings in FirstEnergy by 3.3% in the first quarter. LFG Wealth Partners LLC now owns 16,327 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 519 shares during the last quarter. Parallel Advisors LLC boosted its holdings in FirstEnergy by 20.6% during the first quarter. Parallel Advisors LLC now owns 6,487 shares of the utilities provider’s stock worth $329,000 after buying an additional 1,106 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of FirstEnergy by 2.9% during the 1st quarter. NewEdge Advisors LLC now owns 33,455 shares of the utilities provider’s stock worth $1,695,000 after buying an additional 946 shares during the period. Optiver Holding B.V. grew its position in shares of FirstEnergy by 1,910.1% during the 1st quarter. Optiver Holding B.V. now owns 1,789 shares of the utilities provider’s stock worth $91,000 after buying an additional 1,700 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of FirstEnergy by 93.2% in the 1st quarter. Glenmede Trust Co. NA now owns 59,490 shares of the utilities provider’s stock valued at $3,014,000 after acquiring an additional 28,702 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FE has been the topic of a number of analyst reports. Barclays cut their price target on shares of FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a report on Wednesday, July 22nd. 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. Weiss Ratings lowered shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, New Street Research set a $52.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Price Performance

NYSE FE opened at $47.50 on Friday. The business has a 50 day simple moving average of $47.72 and a 200 day simple moving average of $48.32. FirstEnergy Corporation has a 52-week low of $42.72 and a 52-week high of $52.34. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.27 and a beta of 0.46.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $0.52 earnings per share. Analysts anticipate that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy’s payout ratio is currently 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.