Commonwealth Financial Services LLC Acquires 608 Shares of FirstEnergy Corp. (NYSE:FE)

Commonwealth Financial Services LLC increased its holdings in FirstEnergy Corp. (NYSE:FE) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,477 shares of the utilities provider’s stock after purchasing an additional 608 shares during the quarter. Commonwealth Financial Services LLC’s holdings in FirstEnergy were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new position in FirstEnergy in the 3rd quarter worth $26,000. FinTrust Capital Advisors LLC increased its position 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 acquiring an additional 610 shares during the period. ST Germain D J Co. Inc. increased its position in shares of FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 615 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of FirstEnergy in the second quarter valued at about $32,000. Finally, Sachetta LLC increased its position in shares of FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 246 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

FE has been the topic of a number of analyst reports. KeyCorp boosted their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America boosted their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Scotiabank boosted 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, August 20th. Morgan Stanley boosted their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 price target on the stock. One 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.00.

FirstEnergy Stock Up 0.5 %

NYSE:FE traded up $0.20 during mid-day trading on Thursday, hitting $44.47. 160,367 shares of the company’s stock were exchanged, compared to its average volume of 2,911,648. FirstEnergy Corp. has a one year low of $34.91 and a one year high of $44.97. 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 business has a fifty day moving average price of $43.63 and a 200 day moving average price of $40.86. The company has a market cap of $25.59 billion, a PE ratio of 25.48, a P/E/G ratio of 2.30 and a beta of 0.50.

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

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 3.82%. FirstEnergy’s dividend 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.