Geode Capital Management LLC Buys 20,183 Shares of FirstEnergy Corp. (NYSE:FE)

Geode Capital Management LLC increased its holdings in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,198,391 shares of the utilities provider's stock after purchasing an additional 20,183 shares during the period. Geode Capital Management LLC owned approximately 2.12% of FirstEnergy worth $539,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Livelsberger Financial Advisory acquired a new stake in shares of FirstEnergy in the 3rd quarter valued at about $26,000. True Wealth Design LLC grew its holdings in shares of FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock worth $29,000 after buying an additional 640 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy in the 2nd quarter valued at approximately $32,000. West Oak Capital LLC bought a new stake in FirstEnergy in the 2nd quarter valued at approximately $38,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in FirstEnergy during the 2nd quarter worth approximately $38,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FE shares. Bank of America boosted their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an "underperform" rating in a research report on Thursday, August 29th. KeyCorp cut their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. 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. Barclays lifted their target price on FirstEnergy from $40.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Finally, Argus raised FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $46.27.

FirstEnergy Stock Performance

FE stock traded down $0.05 during midday trading on Friday, reaching $40.27. 1,622,362 shares of the company were exchanged, compared to its average volume of 2,900,637. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. The business has a 50-day moving average price of $42.20 and a two-hundred day moving average price of $41.58. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97. 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 - Get Free Report) 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. Equities research analysts forecast that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th were given a $0.425 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.22%. FirstEnergy's payout ratio 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.