International Private Wealth Advisors LLC Trims Stock Holdings in FirstEnergy Corp. (NYSE:FE)

International Private Wealth Advisors LLC cut its holdings in FirstEnergy Corp. (NYSE:FE) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,206 shares of the utilities provider’s stock after selling 277 shares during the quarter. International Private Wealth Advisors LLC’s holdings in FirstEnergy were worth $275,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Balanced Wealth Group LLC increased its holdings in shares of FirstEnergy by 0.9% in the 3rd quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider’s stock worth $1,186,000 after purchasing an additional 241 shares in the last quarter. Sachetta LLC raised its stake in FirstEnergy by 36.0% during the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after buying an additional 246 shares during the last quarter. Commonwealth Financial Services LLC grew its holdings in shares of FirstEnergy by 4.4% in the second quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider’s stock worth $226,000 after acquiring an additional 249 shares during the period. Metis Global Partners LLC increased its holdings in FirstEnergy by 1.7% during the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock valued at $750,000 after buying an additional 288 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in FirstEnergy by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 44,441 shares of the utilities provider’s stock worth $1,701,000 after acquiring an additional 310 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, September 20th. Wells Fargo & Company upped their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America boosted their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Barclays boosted their target price on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Trading Down 0.1 %

FE traded down $0.05 during trading hours on Thursday, reaching $41.17. 243,291 shares of the company’s stock traded hands, compared to its average volume of 2,938,712. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The firm has a 50-day moving average price of $43.25 and a 200 day moving average price of $41.30. FirstEnergy Corp. has a 52-week low of $35.41 and a 52-week high of $44.97. The firm has a market capitalization of $23.73 billion, a PE ratio of 26.60, a PEG ratio of 2.23 and a beta of 0.51.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion during 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%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, sell-side analysts predict that FirstEnergy Corp. will post 2.69 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s payout ratio is 109.68%.

FirstEnergy Company 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.