FirstEnergy Corp. (FE) is AI Financial Services LLC’s 3rd Largest Position

AI Financial Services LLC reduced its position in FirstEnergy Corp. (NYSE:FE) by 26.8% in the third quarter, HoldingsChannel reports. The firm owned 69,027 shares of the utilities provider’s stock after selling 25,215 shares during the quarter. FirstEnergy makes up 6.4% of AI Financial Services LLC’s holdings, making the stock its 3rd biggest holding. AI Financial Services LLC’s holdings in FirstEnergy were worth $2,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FE. Reilly Financial Advisors LLC lifted its stake in shares of FirstEnergy by 285.8% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock valued at $103,000 after acquiring an additional 2,132 shares during the last quarter. Winslow Evans & Crocker Inc. bought a new stake in shares of FirstEnergy in the 3rd quarter valued at about $114,000. Valeo Financial Advisors LLC lifted its stake in shares of FirstEnergy by 104.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,759 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 1,920 shares during the last quarter. IMA Wealth Inc. bought a new stake in shares of FirstEnergy in the 2nd quarter valued at about $180,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of FirstEnergy in the 2nd quarter valued at about $189,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.

FE has been the subject of a number of recent research reports. Bank of America boosted their target price on FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, July 17th. Morgan Stanley boosted their target price on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. Wells Fargo & Co reissued a “buy” rating and issued a $42.00 target price (up previously from $41.00) on shares of FirstEnergy in a research note on Monday, September 17th. Finally, ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.90.

FE opened at $37.70 on Friday. The company has a market cap of $19.16 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.46 and a beta of 0.24. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41. FirstEnergy Corp. has a one year low of $29.33 and a one year high of $39.01.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.82 billion. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. Equities research analysts forecast that FirstEnergy Corp. will post 2.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Tuesday, November 6th. FirstEnergy’s payout ratio is 46.91%.

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FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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