FirstEnergy Corp. (NYSE:FE) Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC lessened its stake in shares of FirstEnergy Corp. (NYSE:FE) by 14.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,211 shares of the utilities provider’s stock after selling 3,212 shares during the period. Diversify Wealth Management LLC’s holdings in FirstEnergy were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in shares of FirstEnergy during the 3rd quarter worth about $26,000. FinTrust Capital Advisors LLC raised its holdings in 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 acquiring an additional 610 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in FirstEnergy by 1,138.9% in the 2nd 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy in the 2nd quarter valued at about $32,000. Finally, Sachetta LLC raised its holdings in FirstEnergy by 36.0% in the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE:FE opened at $42.20 on Thursday. 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 stock has a market capitalization of $24.30 billion, a P/E ratio of 29.93, a PEG ratio of 2.28 and a beta of 0.50. The company has a 50 day moving average price of $43.67 and a 200 day moving average price of $41.05. FirstEnergy Corp. has a fifty-two week low of $34.92 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.06). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. Equities research analysts forecast that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.03%. FirstEnergy’s payout ratio is currently 120.57%.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of recent research reports. Scotiabank increased their price objective on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley increased their price objective on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.00.

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.