Entropy Technologies LP Purchases New Holdings in FirstEnergy Corp. (NYSE:FE)

Entropy Technologies LP bought a new position in FirstEnergy Corp. (NYSE:FE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,180 shares of the utilities provider's stock, valued at approximately $762,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new stake in shares of FirstEnergy during the third quarter worth about $205,000. Tyler Stone Wealth Management raised its position in FirstEnergy by 94.4% during the 3rd quarter. Tyler Stone Wealth Management now owns 22,817 shares of the utilities provider's stock worth $1,012,000 after buying an additional 11,081 shares during the last quarter. SpiderRock Advisors LLC lifted its stake in FirstEnergy by 0.8% during the 3rd quarter. SpiderRock Advisors LLC now owns 48,950 shares of the utilities provider's stock valued at $2,171,000 after acquiring an additional 386 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of FirstEnergy in the third quarter worth $253,000. Finally, Principal Financial Group Inc. raised its holdings in shares of FirstEnergy by 5.2% during the third quarter. Principal Financial Group Inc. now owns 617,768 shares of the utilities provider's stock worth $27,398,000 after purchasing an additional 30,769 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FE. Argus raised FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Friday, September 20th. Morgan Stanley lifted their price target on FirstEnergy from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Wells Fargo & Company upped their price objective on FirstEnergy from $42.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 1st. KeyCorp raised their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Finally, Seaport Res Ptn cut shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.00.

FirstEnergy Price Performance

Shares of FE traded up $0.69 during trading hours on Friday, hitting $41.52. 4,002,076 shares of the stock were exchanged, compared to its average volume of 2,957,772. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The company has a market cap of $23.93 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 2.22 and a beta of 0.51. The stock's 50-day moving average price is $43.18 and its two-hundred day moving average price is $41.30. FirstEnergy Corp. has a 12-month low of $35.41 and a 12-month high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data 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 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%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. Research analysts expect that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 dividend yield of 4.09%. FirstEnergy's dividend payout ratio (DPR) is presently 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.