Envestnet Asset Management Inc. Has $12.99 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Envestnet Asset Management Inc. grew its holdings in FirstEnergy Corp. (NYSE:FE) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,439 shares of the utilities provider’s stock after purchasing an additional 11,274 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of FirstEnergy worth $12,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Corient Private Wealth LLC grew its stake in FirstEnergy by 14.6% during the 4th quarter. Corient Private Wealth LLC now owns 46,898 shares of the utilities provider’s stock valued at $1,719,000 after acquiring an additional 5,979 shares in the last quarter. US Bancorp DE increased its holdings in shares of FirstEnergy by 3.0% during the 4th quarter. US Bancorp DE now owns 64,573 shares of the utilities provider’s stock valued at $2,367,000 after acquiring an additional 1,866 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of FirstEnergy by 4.8% in the fourth quarter. TD Asset Management Inc now owns 194,754 shares of the utilities provider’s stock worth $7,140,000 after buying an additional 8,946 shares during the last quarter. Stifel Financial Corp lifted its position in FirstEnergy by 30.4% during the 4th quarter. Stifel Financial Corp now owns 204,030 shares of the utilities provider’s stock worth $7,480,000 after acquiring an additional 47,514 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in FirstEnergy by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 241,658 shares of the utilities provider’s stock valued at $8,859,000 after acquiring an additional 2,360 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FE. KeyCorp boosted their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley upped their price target on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays lifted their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Bank of America raised their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price target on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.45.

FirstEnergy Stock Up 0.3 %

FirstEnergy stock opened at $43.79 on Thursday. The company’s 50 day simple moving average is $42.70 and its 200 day simple moving average is $40.10. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.32 and a beta of 0.50. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share 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 net margin of 6.61% and a return on equity of 12.12%. During the same period in the prior year, the business earned $0.47 EPS. As a group, sell-side analysts anticipate that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 3.88%. FirstEnergy’s payout ratio is presently 97.70%.

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.