FirstEnergy Corp. (NYSE:FE) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY increased its position in shares of FirstEnergy Corp. (NYSE:FE) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,700 shares of the utilities provider’s stock after purchasing an additional 1,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in FirstEnergy were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FE. FinTrust Capital Advisors LLC boosted its holdings in shares of FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the period. ST Germain D J Co. Inc. boosted its stake in FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 615 shares during the period. Livelsberger Financial Advisory acquired a new position in FirstEnergy in the third quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of FirstEnergy during the second quarter valued at approximately $32,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of FirstEnergy during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Down 0.4 %

FirstEnergy stock opened at $44.09 on Friday. FirstEnergy Corp. has a 52 week low of $34.91 and a 52 week high of $44.97. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51. The firm has a market capitalization of $25.39 billion, a price-to-earnings ratio of 31.27, a P/E/G ratio of 2.31 and a beta of 0.50. The company has a 50 day moving average price of $43.63 and a 200 day moving average price of $40.86.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same period last year, the company posted $0.47 EPS. Research analysts forecast that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 120.57%.

Analyst Ratings Changes

FE has been the topic of a number of recent research reports. Morgan Stanley raised their target price on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. KeyCorp raised their price target on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, September 20th. Finally, Wells Fargo & Company raised their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.00.

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.