Prossimo Advisors LLC Grows Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Prossimo Advisors LLC raised its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 20.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,980 shares of the utilities provider’s stock after purchasing an additional 1,670 shares during the quarter. Prossimo Advisors LLC’s holdings in FirstEnergy were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FinTrust Capital Advisors LLC lifted its position in FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after buying an additional 610 shares during the last quarter. ST Germain D J Co. Inc. raised its stake 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. Livelsberger Financial Advisory bought a new stake in shares of FirstEnergy in the 3rd quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of FirstEnergy during the 2nd quarter worth about $32,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of FirstEnergy during the 1st quarter worth about $36,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on FE. Morgan Stanley raised their price objective on shares of FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Bank of America raised their price target on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Argus raised 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. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Trading Down 0.2 %

NYSE FE opened at $41.73 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.58. The company has a fifty day simple moving average of $43.62 and a two-hundred day simple moving average of $41.11. FirstEnergy Corp. has a 12-month low of $34.92 and a 12-month high of $44.97. The stock has a market cap of $24.05 billion, a P/E ratio of 26.92, a P/E/G ratio of 2.24 and a beta of 0.51.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, analysts forecast that FirstEnergy Corp. will post 2.69 earnings per share for the current 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 given a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.07%. FirstEnergy’s dividend payout ratio is currently 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.