Y Intercept Hong Kong Ltd Has $1.68 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Y Intercept Hong Kong Ltd boosted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 25.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,907 shares of the utilities provider’s stock after buying an additional 7,605 shares during the period. Y Intercept Hong Kong Ltd’s holdings in FirstEnergy were worth $1,681,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in shares of FirstEnergy by 1,417.3% during the third quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after acquiring an additional 694,313 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in FirstEnergy by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock worth $403,517,000 after purchasing an additional 457,231 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of FirstEnergy in the 2nd quarter valued at about $14,933,000. Los Angeles Capital Management LLC lifted its holdings in shares of FirstEnergy by 1,178.5% in the second quarter. Los Angeles Capital Management LLC now owns 286,824 shares of the utilities provider’s stock valued at $10,977,000 after purchasing an additional 264,389 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of FirstEnergy by 4,445.0% during the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock worth $9,732,000 after buying an additional 214,606 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Scotiabank boosted their target price on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barclays lifted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. 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 for the company. Finally, Morgan Stanley lowered their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. 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 company. According to data from MarketBeat, FirstEnergy presently has an average rating of “Hold” and a consensus target price of $45.82.

FirstEnergy Trading Down 0.8 %

Shares of FirstEnergy stock opened at $40.50 on Wednesday. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.21 and a beta of 0.51. The business has a fifty day simple moving average of $42.42 and a two-hundred day simple moving average of $41.59. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. Research analysts forecast that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, November 7th. FirstEnergy’s dividend payout ratio is 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.