Qsemble Capital Management LP Purchases 41,033 Shares of FirstEnergy Corp. (NYSE:FE)

Qsemble Capital Management LP lifted its position in FirstEnergy Corp. (NYSE:FE) by 241.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,015 shares of the utilities provider’s stock after purchasing an additional 41,033 shares during the quarter. Qsemble Capital Management LP’s holdings in FirstEnergy were worth $2,573,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 price objective on the stock. Morgan Stanley dropped their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday. Barclays boosted their price objective on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wells Fargo & Company raised their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, FirstEnergy has an average rating of “Hold” and a consensus price target of $45.91.

FirstEnergy Stock Up 0.6 %

Shares of NYSE:FE opened at $42.04 on Tuesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The stock has a market cap of $24.23 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.25 and a beta of 0.51. The company has a 50 day moving average of $42.83 and a 200-day moving average of $41.47. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion for 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%. FirstEnergy’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current 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 paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s payout ratio is 109.68%.

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.