DRW Securities LLC Invests $1.15 Million in FirstEnergy Corp. (NYSE:FE)

DRW Securities LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,012 shares of the utilities provider’s stock, valued at approximately $1,154,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FE. Livelsberger Financial Advisory bought a new stake in FirstEnergy during the third quarter worth approximately $26,000. ST Germain D J Co. Inc. increased its holdings in shares of 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 buying an additional 615 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of FirstEnergy in the second quarter valued at $32,000. Sachetta LLC increased its holdings in shares of FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after buying an additional 246 shares in the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in shares of FirstEnergy in the first quarter valued at $36,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Price Performance

FE opened at $42.04 on Tuesday. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97. 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 company’s 50 day simple moving average is $42.83 and its 200-day simple moving average is $41.47. The stock has a market capitalization of $24.23 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.51.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 4.04%. FirstEnergy’s payout ratio is currently 109.68%.

Analyst Ratings Changes

FE has been the topic of several research reports. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, September 20th. Jefferies Financial Group started coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 target price on the stock. Barclays boosted their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their target price 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. Finally, Bank of America boosted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. One research 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’s stock. According to data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $45.91.

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.