Twelve Points Wealth Management LLC Purchases 1,296 Shares of FirstEnergy Corp. (NYSE:FE)

Twelve Points Wealth Management LLC lifted its position in shares of FirstEnergy Corp. (NYSE:FE) by 14.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,276 shares of the utilities provider’s stock after purchasing an additional 1,296 shares during the period. Twelve Points Wealth Management LLC’s holdings in FirstEnergy were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its position in FirstEnergy by 14.3% during the 1st 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 period. Boston Partners lifted its holdings in shares of FirstEnergy by 2.3% during the first quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after purchasing an additional 218,165 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy by 0.9% in 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 increased its holdings in FirstEnergy by 2.0% in the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock valued at $136,152,000 after purchasing an additional 69,512 shares during the period. Finally, 1832 Asset Management L.P. raised its position in FirstEnergy by 7.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock worth $104,288,000 after purchasing an additional 193,540 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.9 %

NYSE:FE opened at $43.90 on Thursday. FirstEnergy Corp. has a 12 month low of $34.73 and a 12 month high of $44.97. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $25.27 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 2.24 and a beta of 0.50. The firm has a fifty day simple moving average of $43.47 and a two-hundred day simple moving average of $40.67.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the business posted $0.47 EPS. Analysts expect that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s payout ratio is 97.70%.

Wall Street Analysts Forecast Growth

FE has been the topic of a number of analyst reports. KeyCorp upped their price target on FirstEnergy from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley upped their target price on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Scotiabank raised their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Bank of America lifted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.82.

About FirstEnergy

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.