Quantinno Capital Management LP Grows Stock Position in FirstEnergy Corporation $FE

Key Points

• Quantinno Capital Management increased its FirstEnergy stake by 19.9% during the first quarter, bringing its holdings to 467,800 shares valued at approximately $23.7 million. Institutional investors and hedge funds collectively own 89.41% of the company.
• FirstEnergy reported quarterly adjusted earnings of $0.50 per share, matching analyst expectations, while revenue of $3.68 billion exceeded estimates of $3.51 billion. Analysts expect full-year earnings of $2.73 per share.
• The company declared a quarterly dividend of $0.465 per share, equivalent to an annualized yield of about 3.8%. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $52.83, versus a recent share price of $48.38.

Quantinno Capital Management LP lifted its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 467,800 shares of the utilities provider's stock after purchasing an additional 77,647 shares during the quarter. Quantinno Capital Management LP owned about 0.08% of FirstEnergy worth $23,699,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. State of Wyoming purchased a new position in FirstEnergy during the 2nd quarter worth $25,000. DV Equities LLC acquired a new stake in shares of FirstEnergy in the 4th quarter worth $33,000. Quest 10 Wealth Builders Inc. boosted its holdings in shares of FirstEnergy by 507.9% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 640 shares in the last quarter. Summit Securities Group LLC boosted its holdings in shares of FirstEnergy by 148.0% in the fourth quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 2,376 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its stake in shares of FirstEnergy by 44.4% during the first quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock worth $38,000 after acquiring an additional 232 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.7%

FirstEnergy stock opened at $48.38 on Friday. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.42 and a current ratio of 0.54. FirstEnergy Corporation has a fifty-two week low of $41.87 and a fifty-two week high of $52.34. The stock's fifty day moving average is $47.58 and its two-hundred day moving average is $48.25.

FirstEnergy (NYSE:FE - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the firm earned $0.52 EPS. Analysts predict that FirstEnergy Corporation will post 2.73 EPS for the current fiscal 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 $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy's dividend payout ratio is 98.94%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FE. UBS Group increased their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, June 11th. New Street Research set a $52.00 price objective on FirstEnergy in a report on Tuesday, April 21st. Jefferies Financial Group boosted their target price on FirstEnergy from $50.00 to $52.00 and gave the stock a "hold" rating in a research report on Tuesday, April 21st. Barclays cut 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. Finally, TD Cowen raised 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 report on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, 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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