Los Angeles Capital Management LLC Has $2.99 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Los Angeles Capital Management LLC reduced its position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,426 shares of the utilities provider's stock after selling 219,398 shares during the period. Los Angeles Capital Management LLC's holdings in FirstEnergy were worth $2,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in FirstEnergy by 34.2% during the 1st quarter. Empowered Funds LLC now owns 7,731 shares of the utilities provider's stock worth $299,000 after acquiring an additional 1,969 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of FirstEnergy by 51.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 16,129 shares of the utilities provider's stock valued at $623,000 after purchasing an additional 5,488 shares during the last quarter. Sei Investments Co. increased its stake in shares of FirstEnergy by 2.1% in the 1st quarter. Sei Investments Co. now owns 448,145 shares of the utilities provider's stock valued at $17,308,000 after purchasing an additional 9,148 shares during the last quarter. Qsemble Capital Management LP bought a new position in shares of FirstEnergy in the 1st quarter valued at $379,000. Finally, Bleakley Financial Group LLC boosted its stake in shares of FirstEnergy by 9.2% in the 1st quarter. Bleakley Financial Group LLC now owns 9,258 shares of the utilities provider's stock valued at $358,000 after purchasing an additional 780 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FE has been the subject of several research reports. Barclays increased their price objective 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 began coverage on FirstEnergy in a report on Monday, October 14th. They set a "hold" rating and a $46.00 price objective on the stock. Morgan Stanley increased their target price 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 company an "equal weight" rating in a research note on Thursday, August 1st. Finally, Seaport Res Ptn cut shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $46.00.

FirstEnergy Trading Down 0.7 %

Shares of NYSE:FE traded down $0.27 during midday trading on Wednesday, reaching $41.23. The company's stock had a trading volume of 3,728,985 shares, compared to its average volume of 2,950,964. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97. 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 firm has a 50 day moving average price of $43.31 and a two-hundred day moving average price of $41.31. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.23 and a beta of 0.51.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, analysts forecast that FirstEnergy Corp. will post 2.69 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.425 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.12%. FirstEnergy's dividend payout ratio is currently 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.