Quantbot Technologies LP Has $3.44 Million Position in FirstEnergy Corporation $FE

Key Points

• Quantbot Technologies LP increased its FirstEnergy position by 303.2% in the second quarter, holding 72,437 shares valued at approximately $3.44 million. Institutional investors and hedge funds own 89.41% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and six Holds. FirstEnergy has a “Moderate Buy” consensus rating and an average price target of $52.83.
• FirstEnergy reported quarterly EPS of $0.50, in line with estimates, while revenue of $3.68 billion exceeded expectations. The company declared a quarterly dividend of $0.465 per share, representing a 4.0% annualized yield.

Quantbot Technologies LP raised its position in FirstEnergy Corporation (NYSE:FE - Free Report) by 303.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,437 shares of the utilities provider's stock after purchasing an additional 54,471 shares during the quarter. Quantbot Technologies LP's holdings in FirstEnergy were worth $3,444,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FE. Brighton Jones LLC bought a new position in FirstEnergy in the 4th quarter valued at approximately $256,000. Integrated Wealth Concepts LLC bought a new stake in FirstEnergy during the 1st quarter worth approximately $289,000. Empowered Funds LLC grew its holdings in FirstEnergy by 7.0% during the 1st quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider's stock worth $453,000 after acquiring an additional 732 shares during the last quarter. Woodline Partners LP grew its holdings in FirstEnergy by 40.7% during the 1st quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider's stock worth $1,752,000 after acquiring an additional 12,531 shares during the last quarter. Finally, Focus Partners Wealth increased its position in FirstEnergy by 6.8% in the 1st quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider's stock valued at $856,000 after acquiring an additional 1,340 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FE has been the subject of several analyst reports. Barclays dropped their price target on shares of 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 decreased their price objective on FirstEnergy from $53.00 to $52.00 and set an "overweight" rating for the company in a report on Friday. UBS Group increased their price objective on FirstEnergy from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Wolfe Research lowered FirstEnergy from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, TD Cowen upgraded FirstEnergy from a "hold" rating to a "buy" rating and reduced their price target for the company from $56.00 to $53.00 in a research report on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $52.83.

FirstEnergy Trading Up 0.1%

NYSE:FE opened at $45.99 on Monday. The firm's fifty day moving average is $47.92 and its 200-day moving average is $48.31. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. FirstEnergy Corporation has a 52 week low of $42.87 and a 52 week high of $52.34. The firm has a market cap of $26.61 billion, a P/E ratio of 24.46, a P/E/G ratio of 2.20 and a beta of 0.46.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations 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 company posted $0.52 earnings per share. Equities analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 7th. FirstEnergy's dividend payout ratio (DPR) is presently 98.94%.

FirstEnergy Company 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.

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