Qsemble Capital Management LP Purchases 41,033 Shares of FirstEnergy Corp. (NYSE:FE)

Qsemble Capital Management LP boosted its position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 241.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 58,015 shares of the utilities provider's stock after purchasing an additional 41,033 shares during the quarter. Qsemble Capital Management LP's holdings in FirstEnergy were worth $2,573,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Balanced Wealth Group LLC raised its stake in shares of FirstEnergy by 0.9% in the third quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider's stock worth $1,186,000 after purchasing an additional 241 shares during the last quarter. Sachetta LLC raised its position in FirstEnergy by 36.0% in the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider's stock worth $39,000 after buying an additional 246 shares during the last quarter. Commonwealth Financial Services LLC lifted its stake in FirstEnergy by 4.4% during the 2nd quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider's stock valued at $226,000 after acquiring an additional 249 shares during the period. Metis Global Partners LLC lifted its stake in FirstEnergy by 1.7% during the 3rd quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider's stock valued at $750,000 after acquiring an additional 288 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of FirstEnergy by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 44,441 shares of the utilities provider's stock valued at $1,701,000 after acquiring an additional 310 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Scotiabank increased their target price on FirstEnergy from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. KeyCorp upped their price objective on FirstEnergy from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. 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. Finally, JPMorgan Chase & Co. raised their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. 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's stock. According to MarketBeat, FirstEnergy presently has an average rating of "Hold" and an average price target of $45.91.

FirstEnergy Trading Up 0.5 %

NYSE:FE traded up $0.23 during mid-day trading on Tuesday, hitting $42.28. 1,801,099 shares of the stock traded hands, compared to its average volume of 2,937,502. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.25 and a beta of 0.51. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97. The firm's 50 day moving average is $42.80 and its two-hundred day moving average is $41.48.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, equities research analysts predict that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy's dividend payout ratio (DPR) is 109.68%.

About FirstEnergy

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.