Twelve Points Wealth Management LLC Has $456,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Twelve Points Wealth Management LLC raised its stake in shares of FirstEnergy Corp. (NYSE:FE) by 14.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,276 shares of the utilities provider’s stock after purchasing an additional 1,296 shares during the period. Twelve Points Wealth Management LLC’s holdings in FirstEnergy were worth $456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. FinTrust Capital Advisors LLC raised its holdings in shares of FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 610 shares during the last quarter. ST Germain D J Co. Inc. grew its position 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 in the last quarter. Scarborough Advisors LLC purchased a new stake in FirstEnergy in the 4th quarter valued at about $31,000. Strategic Investment Solutions Inc. IL bought a new position in shares of FirstEnergy during the 2nd quarter worth approximately $32,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of FirstEnergy in the 1st quarter worth approximately $36,000. 89.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FE has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Bank of America lifted their target price on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Barclays increased their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wells Fargo & Company lifted their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.82.

FirstEnergy Stock Performance

Shares of FE stock opened at $43.90 on Thursday. The firm’s 50 day moving average is $43.47 and its 200 day moving average is $40.67. The stock has a market capitalization of $25.27 billion, a P/E ratio of 25.23, a PEG ratio of 2.24 and a beta of 0.50. FirstEnergy Corp. has a 12 month low of $34.73 and a 12 month high of $44.97. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52.

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

FirstEnergy Announces Dividend

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 issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is presently 97.70%.

About FirstEnergy

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.