Altman Advisors Inc. Has $1.69 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Altman Advisors Inc. grew its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,078 shares of the utilities provider’s stock after purchasing an additional 380 shares during the period. Altman Advisors Inc.’s holdings in FirstEnergy were worth $1,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board bought a new position in shares of FirstEnergy in the 3rd quarter worth $224,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of FirstEnergy by 17.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,808 shares of the utilities provider’s stock valued at $4,426,000 after buying an additional 14,606 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of FirstEnergy by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 86,553 shares of the utilities provider’s stock valued at $3,839,000 after buying an additional 5,390 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of FirstEnergy during the third quarter worth about $590,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of FirstEnergy in the 3rd quarter worth about $123,000. Institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FE. Wells Fargo & Company lifted their price target on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Scotiabank increased their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, September 20th. Finally, Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Price Performance

Shares of NYSE FE opened at $41.62 on Wednesday. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 2.23 and a beta of 0.51. The stock has a fifty day simple moving average of $43.01 and a two-hundred day simple moving average of $41.39. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. Analysts anticipate that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.08%. FirstEnergy’s dividend payout ratio is currently 109.68%.

FirstEnergy Profile

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