National Pension Service Buys 31,445 Shares of FirstEnergy Corporation $FE

Key Points

• National Pension Service increased its FirstEnergy stake by 3.2% in the second quarter, adding 31,445 shares for a total of 1,014,031 shares valued at approximately $48.2 million. Institutional investors collectively own 89.41% of the company.
• FirstEnergy reported quarterly revenue of $3.68 billion and earnings of $0.50 per share, matching analyst expectations on EPS while exceeding revenue estimates.
• The company maintains a quarterly dividend of $0.465, equivalent to a 4.0% annualized yield. Analysts have a consensus “Moderate Buy” rating with an average price target of $52.83, versus a recent share price of $46.13.

National Pension Service lifted its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 3.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,014,031 shares of the utilities provider's stock after acquiring an additional 31,445 shares during the period. National Pension Service owned approximately 0.18% of FirstEnergy worth $48,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in shares of FirstEnergy by 4.1% during the fourth quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider's stock worth $241,000 after acquiring an additional 213 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of FirstEnergy by 3.4% in the 1st quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider's stock worth $346,000 after acquiring an additional 223 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of FirstEnergy by 5.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider's stock valued at $209,000 after purchasing an additional 223 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of FirstEnergy by 44.4% during the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 232 shares during the last quarter. Finally, Allworth Financial LP raised its position in FirstEnergy by 3.7% in the 4th quarter. Allworth Financial LP now owns 6,778 shares of the utilities provider's stock worth $303,000 after purchasing an additional 241 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

NYSE:FE opened at $46.13 on Friday. The stock has a market cap of $26.69 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45. The firm's fifty day simple moving average is $47.60 and its 200 day simple moving average is $48.11. FirstEnergy Corporation has a twelve month low of $43.00 and a twelve month high of $52.34. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88.

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

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were issued a $0.465 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 4.0%. FirstEnergy's dividend payout ratio (DPR) is 98.94%.

Wall Street Analysts Forecast Growth

FE has been the subject of several analyst reports. Wall Street Zen lowered shares of FirstEnergy from a "hold" rating to a "sell" rating in a research report on Saturday, September 5th. Weiss Ratings lowered FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, June 17th. Barclays lowered their target price on FirstEnergy from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Morgan Stanley reduced their price target on FirstEnergy from $53.00 to $52.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Finally, UBS Group raised their price target on FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, FirstEnergy presently has an average rating of "Moderate Buy" and an average target price of $52.83.

FirstEnergy Profile

FirstEnergy Corp. NYSE: FE is an electric utility holding company focused on the transmission and distribution of electricity. Through its regulated operating companies, the company delivers power to residential, commercial and industrial customers and maintains the local infrastructure needed to support reliable electric service.

FirstEnergy's utility operations include Ohio Edison, The Illuminating Company, Toledo Edison, Met-Ed, Penelec, Penn Power, West Penn Power, Jersey Central Power & Light and Mon Power, among others.

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