Rehmann Capital Advisory Group Purchases 263 Shares of FirstEnergy Corp. (NYSE:FE)

Rehmann Capital Advisory Group boosted its position in shares of FirstEnergy Corp. (NYSE:FEGet Rating) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,838 shares of the utilities provider’s stock after acquiring an additional 263 shares during the period. Rehmann Capital Advisory Group’s holdings in FirstEnergy were worth $359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of FirstEnergy by 32.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,689 shares of the utilities provider’s stock valued at $2,141,000 after buying an additional 11,502 shares during the last quarter. Gradient Investments LLC raised its position in shares of FirstEnergy by 4.6% during the first quarter. Gradient Investments LLC now owns 5,353 shares of the utilities provider’s stock valued at $245,000 after buying an additional 237 shares during the last quarter. Midwest Wealth Management Inc. raised its position in shares of FirstEnergy by 4.1% during the first quarter. Midwest Wealth Management Inc. now owns 37,854 shares of the utilities provider’s stock valued at $1,736,000 after buying an additional 1,501 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of FirstEnergy by 8.5% during the first quarter. Neuberger Berman Group LLC now owns 145,263 shares of the utilities provider’s stock valued at $6,690,000 after buying an additional 11,336 shares during the last quarter. Finally, Sawtooth Solutions LLC bought a new stake in shares of FirstEnergy during the first quarter valued at approximately $580,000. Institutional investors own 87.20% of the company’s stock.

Wall Street Analysts Forecast Growth

FE has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Morgan Stanley boosted their price target on shares of FirstEnergy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 23rd. Wells Fargo & Company reduced their price target on shares of FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. Mizuho reduced their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 7th. Finally, StockNews.com cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.75.

FirstEnergy Stock Up 1.9 %

NYSE FE opened at $41.20 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.84. The company has a fifty day moving average of $39.63 and a two-hundred day moving average of $41.66. The firm has a market capitalization of $23.54 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.71 and a beta of 0.44. FirstEnergy Corp. has a 52 week low of $35.32 and a 52 week high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. FirstEnergy had a net margin of 11.78% and a return on equity of 15.13%. During the same quarter last year, the business earned $0.59 earnings per share. On average, analysts predict that FirstEnergy Corp. will post 2.41 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Thursday, August 4th. FirstEnergy’s dividend payout ratio is currently 63.41%.

FirstEnergy Company Profile

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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, natural gas, wind, and solar power generating facilities.

See Also

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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