UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $104.06 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in FirstEnergy Corp. (NYSE:FE) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,346,263 shares of the utilities provider’s stock after purchasing an additional 171,955 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.41% of FirstEnergy worth $104,057,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Tidal Investments LLC boosted its stake in shares of FirstEnergy by 8.4% during the 1st quarter. Tidal Investments LLC now owns 13,083 shares of the utilities provider’s stock worth $505,000 after acquiring an additional 1,019 shares during the period. Atria Investments Inc raised its holdings in FirstEnergy by 8.4% in the 1st quarter. Atria Investments Inc now owns 33,899 shares of the utilities provider’s stock valued at $1,309,000 after acquiring an additional 2,634 shares during the period. Cetera Investment Advisers lifted its position in FirstEnergy by 550.6% during the first quarter. Cetera Investment Advisers now owns 80,895 shares of the utilities provider’s stock worth $3,124,000 after acquiring an additional 68,461 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of FirstEnergy by 19.7% during the first quarter. Cetera Advisors LLC now owns 22,052 shares of the utilities provider’s stock worth $852,000 after acquiring an additional 3,627 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of FirstEnergy by 1.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 83,216 shares of the utilities provider’s stock valued at $3,171,000 after purchasing an additional 1,161 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FE. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, September 20th. Scotiabank boosted their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 price target on the stock. KeyCorp boosted their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Barclays raised their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and a consensus target price of $45.91.

FirstEnergy Stock Down 0.2 %

NYSE FE opened at $42.55 on Monday. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97. The business has a fifty day moving average price of $42.74 and a two-hundred day moving average price of $41.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The stock has a market capitalization of $24.52 billion, a PE ratio of 27.45, a PEG ratio of 2.30 and a beta of 0.51.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. Equities analysts expect that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, November 7th. FirstEnergy’s dividend payout ratio is 109.68%.

FirstEnergy Company 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.