Landscape Capital Management L.L.C. Purchases 2,357 Shares of FirstEnergy Corp. (NYSE:FE)

Landscape Capital Management L.L.C. raised its position in FirstEnergy Corp. (NYSE:FE) by 8.9% during the third quarter, Holdings Channel.com reports. The fund owned 28,739 shares of the utilities provider’s stock after purchasing an additional 2,357 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in FirstEnergy were worth $1,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ST Germain D J Co. Inc. lifted its stake in 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 worth $26,000 after acquiring an additional 615 shares during the period. Livelsberger Financial Advisory bought a new position in FirstEnergy in the 3rd quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of FirstEnergy in the 2nd quarter worth about $32,000. Western Pacific Wealth Management LP bought a new stake in shares of FirstEnergy during the 1st quarter valued at about $36,000. Finally, West Oak Capital LLC purchased a new position in shares of FirstEnergy during the second quarter valued at about $38,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Stock Performance

FE stock opened at $41.80 on Friday. The stock has a market capitalization of $24.09 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12-month low of $35.41 and a 12-month high of $44.97. The stock’s 50 day simple moving average is $42.87 and its 200 day simple moving average is $41.42.

FirstEnergy (NYSE:FE) last posted its earnings results 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). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the company posted $0.88 EPS. FirstEnergy’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts forecast that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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 given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays lifted their price target on 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 increased their price objective on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and an average price target of $45.91.

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.