FirstEnergy Corp. (NYSE:FE) Shares Purchased by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. raised its holdings in FirstEnergy Corp. (NYSE:FE) by 1,138.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 669 shares of the utilities provider’s stock after purchasing an additional 615 shares during the period. ST Germain D J Co. Inc.’s holdings in FirstEnergy were worth $26,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FE. Capital World Investors increased its stake in shares of FirstEnergy by 14.3% in the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock worth $3,009,615,000 after buying an additional 9,773,785 shares during the last quarter. Boston Partners raised its stake in shares of FirstEnergy by 2.3% in the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock valued at $367,423,000 after purchasing an additional 218,165 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of FirstEnergy by 0.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock worth $344,908,000 after purchasing an additional 82,482 shares during the last quarter. First Pacific Advisors LP grew its stake in FirstEnergy by 1.3% in the fourth quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock worth $127,623,000 after purchasing an additional 45,350 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in FirstEnergy by 20.6% in the fourth quarter. 1832 Asset Management L.P. now owns 3,454,376 shares of the utilities provider’s stock valued at $126,637,000 after buying an additional 590,815 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FE has been the subject of several research reports. Barclays lifted their target price on FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Mizuho raised their price target on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. The Goldman Sachs Group assumed coverage on FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and a consensus target price of $40.92.

FirstEnergy Stock Performance

Shares of NYSE FE traded up $0.26 during midday trading on Tuesday, reaching $42.14. 3,439,289 shares of the company traded hands, compared to its average volume of 2,997,678. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 2.69 and a beta of 0.49. The stock has a 50-day moving average price of $39.38 and a 200 day moving average price of $38.45. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $43.65. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.56.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period in the previous year, the firm earned $0.47 EPS. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Wednesday, August 7th. FirstEnergy’s payout ratio is currently 97.70%.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.