Point72 Hong Kong Ltd Boosts Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Point72 Hong Kong Ltd lifted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 165.8% during the second quarter, Holdings Channel reports. The fund owned 20,505 shares of the utilities provider’s stock after acquiring an additional 12,792 shares during the period. Point72 Hong Kong Ltd’s holdings in FirstEnergy were worth $878,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of FirstEnergy by 3.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 66,580 shares of the utilities provider’s stock worth $2,770,000 after purchasing an additional 2,167 shares in the last quarter. US Bancorp DE raised its stake in shares of FirstEnergy by 12.1% in the 1st quarter. US Bancorp DE now owns 41,559 shares of the utilities provider’s stock valued at $1,730,000 after buying an additional 4,484 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of FirstEnergy by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 50,307 shares of the utilities provider’s stock valued at $2,093,000 after buying an additional 556 shares in the last quarter. Commerce Bank raised its stake in shares of FirstEnergy by 20.0% in the 1st quarter. Commerce Bank now owns 20,356 shares of the utilities provider’s stock valued at $847,000 after buying an additional 3,389 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of FirstEnergy by 1,045.0% in the 1st quarter. Penserra Capital Management LLC now owns 33,090 shares of the utilities provider’s stock valued at $1,390,000 after buying an additional 30,200 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the stock. KeyCorp restated an “overweight” rating and issued a $46.00 price objective on shares of FirstEnergy in a research note on Wednesday, June 5th. TheStreet cut shares of FirstEnergy from a “b” rating to a “f” rating in a research note on Thursday, July 18th. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price objective for the company. in a research note on Tuesday, July 2nd. Finally, Mizuho cut shares of FirstEnergy from a “buy” rating to a “neutral” rating and increased their price objective for the company from $48.00 to $48.50 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $44.64.

Shares of FE stock traded down $0.72 during mid-day trading on Friday, reaching $47.39. The company’s stock had a trading volume of 11,015,830 shares, compared to its average volume of 3,430,670. FirstEnergy Corp. has a 1-year low of $35.33 and a 1-year high of $48.27. The company has a market cap of $25.98 billion, a P/E ratio of 18.30, a PEG ratio of 3.21 and a beta of 0.21. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.53 and a current ratio of 0.60. The firm’s 50-day moving average is $45.59 and its two-hundred day moving average is $43.07.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is currently 58.69%.

About FirstEnergy

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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