Chevy Chase Trust Holdings LLC Sells 3,175 Shares of FirstEnergy Corp. (NYSE:FE)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 291,842 shares of the utilities provider’s stock after selling 3,175 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of FirstEnergy worth $11,169,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FE. Sachetta LLC bought a new position in FirstEnergy in the 4th quarter worth about $25,000. FinTrust Capital Advisors LLC grew its position in FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 615 shares during the period. Scarborough Advisors LLC bought a new stake in FirstEnergy in the fourth quarter valued at approximately $31,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of FirstEnergy during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.1 %

NYSE FE traded up $0.05 during trading hours on Wednesday, reaching $43.24. 727,843 shares of the company’s stock traded hands, compared to its average volume of 2,972,567. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $43.65. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. The firm has a 50-day simple moving average of $40.05 and a 200 day simple moving average of $38.89. The firm has a market cap of $24.90 billion, a PE ratio of 24.82, a PEG ratio of 2.34 and a beta of 0.49.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period last year, the business earned $0.47 earnings per share. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, August 7th. FirstEnergy’s payout ratio is 97.70%.

Wall Street Analysts Forecast Growth

FE has been the subject of several analyst reports. Scotiabank increased their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Morgan Stanley cut their price objective on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Finally, KeyCorp boosted their target price on FirstEnergy from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.18.

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.