2,053,059 Shares in FirstEnergy Corporation $FE Acquired by Energy Income Partners LLC

Key Points

• Energy Income Partners acquired 2,053,059 FirstEnergy shares worth approximately $97.6 million, giving it a 0.35% stake and making FE its 22nd-largest portfolio holding.
• FirstEnergy shares were trading at $47.26, down 0.3%, while the company reported quarterly EPS of $0.50—matching estimates—and revenue of $3.68 billion, above the $3.51 billion consensus.
• FirstEnergy declared a quarterly dividend of $0.465 per share, equivalent to an annualized $1.86 payout and a 3.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $52.83.

Energy Income Partners LLC acquired a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,053,059 shares of the utilities provider's stock, valued at approximately $97,602,000. FirstEnergy makes up about 1.5% of Energy Income Partners LLC's portfolio, making the stock its 22nd biggest position. Energy Income Partners LLC owned approximately 0.35% of FirstEnergy at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in FirstEnergy in the second quarter worth approximately $25,000. Axiom Investment Management LLC acquired a new stake in shares of FirstEnergy in the 1st quarter valued at $26,000. DV Equities LLC bought a new stake in FirstEnergy in the fourth quarter worth $33,000. Quest 10 Wealth Builders Inc. increased its position in FirstEnergy by 507.9% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider's stock worth $34,000 after buying an additional 640 shares during the last quarter. Finally, Summit Securities Group LLC raised its holdings in FirstEnergy by 148.0% during the fourth quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider's stock valued at $35,000 after buying an additional 2,376 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Trading Down 0.3%

Shares of FirstEnergy stock opened at $47.26 on Wednesday. FirstEnergy Corporation has a 1 year low of $42.72 and a 1 year high of $52.34. The company's fifty day simple moving average is $47.91 and its 200-day simple moving average is $48.32. The company has a market cap of $27.35 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 2.27 and a beta of 0.46. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, meeting analysts' consensus estimates of $0.50. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same period in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a dividend of $0.465 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. FirstEnergy's dividend payout ratio (DPR) is 98.94%.

Analyst Ratings Changes

FE has been the subject of several recent analyst reports. New Street Research set a $52.00 price target on FirstEnergy in a research note on Tuesday, April 21st. Wells Fargo & Company reiterated an "overweight" rating and issued a $55.00 target price on shares of FirstEnergy in a research note on Tuesday, April 21st. TD Cowen raised shares of FirstEnergy from a "hold" rating to a "buy" rating and cut their target price for the stock from $56.00 to $53.00 in a research report on Friday, May 15th. UBS Group upped their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group raised their price target on FirstEnergy from $50.00 to $52.00 and gave the company a "hold" rating in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, FirstEnergy presently has an average rating of "Moderate Buy" and a consensus target price of $52.83.

About FirstEnergy

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.

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