73,305 Shares in FirstEnergy Corp. (NYSE:FE) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 73,305 shares of the utilities provider's stock, valued at approximately $3,251,000.

A number of other institutional investors have also recently added to or reduced their stakes in FE. Livelsberger Financial Advisory purchased a new stake in FirstEnergy in the third quarter valued at $26,000. ST Germain D J Co. Inc. grew 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 buying an additional 615 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of FirstEnergy in the second quarter valued at $32,000. Sachetta LLC grew its stake 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 buying an additional 246 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of FirstEnergy in the first quarter valued at $36,000. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Price Performance

Shares of FirstEnergy stock traded up $0.04 during mid-day trading on Monday, reaching $41.83. 666,643 shares of the stock were exchanged, compared to its average volume of 2,934,194. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.25 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. The firm has a 50-day simple moving average of $42.87 and a 200 day simple moving average of $41.45. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.05). The firm 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%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. On average, sell-side analysts predict that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy's payout ratio is presently 109.68%.

Analyst Upgrades and Downgrades

FE has been the subject of a number of research reports. KeyCorp lifted their price objective on FirstEnergy from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on FirstEnergy in a research report on Monday, October 14th. They issued a "hold" rating and a $46.00 price target for the company. Argus upgraded FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a report on Friday, September 20th. Barclays increased their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Finally, Scotiabank upped their price objective on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $45.91.

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.