Farther Finance Advisors LLC Purchases 836 Shares of FirstEnergy Corp. (NYSE:FE)

Farther Finance Advisors LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 25.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,131 shares of the utilities provider’s stock after buying an additional 836 shares during the period. Farther Finance Advisors LLC’s holdings in FirstEnergy were worth $183,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ST Germain D J Co. Inc. grew its stake 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 worth $26,000 after buying an additional 615 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in FirstEnergy in the third quarter worth $26,000. Strategic Investment Solutions Inc. IL bought a new position in FirstEnergy in the second quarter valued at $32,000. Western Pacific Wealth Management LP purchased a new stake in FirstEnergy during the first quarter valued at about $36,000. Finally, West Oak Capital LLC bought a new stake in FirstEnergy during the second quarter worth about $38,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Scotiabank lifted their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Trading Up 0.8 %

NYSE FE opened at $41.54 on Monday. The stock’s fifty day moving average price is $43.42 and its 200-day moving average price is $41.24. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock has a market cap of $23.94 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.23 and a beta of 0.51. FirstEnergy Corp. has a 12 month low of $34.92 and a 12 month high of $44.97.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results 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). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the business earned $0.88 EPS. FirstEnergy’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that FirstEnergy Corp. will post 2.69 EPS for the current fiscal 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 $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

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.