FirstEnergy Corporation $FE Shares Bought by Sowell Financial Services LLC

Sowell Financial Services LLC lifted its position in shares of FirstEnergy Corporation (NYSE:FE) by 25.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,611 shares of the utilities provider’s stock after buying an additional 15,469 shares during the period. Sowell Financial Services LLC’s holdings in FirstEnergy were worth $3,510,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of FirstEnergy by 1.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after purchasing an additional 1,349 shares during the period. Mackenzie Financial Corp lifted its position in FirstEnergy by 418.0% during the second quarter. Mackenzie Financial Corp now owns 270,183 shares of the utilities provider’s stock valued at $10,878,000 after buying an additional 218,020 shares in the last quarter. Advisors Asset Management Inc. grew its stake in FirstEnergy by 52.7% during the second quarter. Advisors Asset Management Inc. now owns 42,632 shares of the utilities provider’s stock worth $1,716,000 after buying an additional 14,718 shares during the period. Edgestream Partners L.P. increased its position in shares of FirstEnergy by 1,379.5% in the second quarter. Edgestream Partners L.P. now owns 114,945 shares of the utilities provider’s stock worth $4,628,000 after acquiring an additional 107,176 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of FirstEnergy by 218.6% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 62,236 shares of the utilities provider’s stock valued at $2,506,000 after acquiring an additional 42,700 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 0.0%

FE stock opened at $44.86 on Monday. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $48.20. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $25.92 billion, a P/E ratio of 19.59, a PEG ratio of 2.73 and a beta of 0.66. The firm has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $43.89.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.78 annualized dividend and a dividend yield of 4.0%. FirstEnergy’s payout ratio is 77.73%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FE shares. Citigroup started coverage on FirstEnergy in a report on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. KeyCorp lowered FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Mizuho boosted their price target on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, Jefferies Financial Group increased their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.75.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.