Wilmington Savings Fund Society FSB Boosts Stock Position in FirstEnergy Corp. (NYSE:FE)

Wilmington Savings Fund Society FSB increased its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 361.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,834 shares of the utilities provider's stock after purchasing an additional 19,457 shares during the period. Wilmington Savings Fund Society FSB's holdings in FirstEnergy were worth $1,101,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory acquired a new position in shares of FirstEnergy during the third quarter worth about $26,000. True Wealth Design LLC boosted its position 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 during the period. Strategic Investment Solutions Inc. IL bought a new stake in FirstEnergy during the second quarter worth about $32,000. West Oak Capital LLC bought a new stake in FirstEnergy during the second quarter worth about $38,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in FirstEnergy during the second quarter worth about $38,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of NYSE:FE traded down $0.05 during trading on Friday, hitting $40.27. The company's stock had a trading volume of 1,622,377 shares, compared to its average volume of 2,900,637. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 2.17 and a beta of 0.51. The company has a 50-day moving average of $42.13 and a 200-day moving average of $41.61. 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 posted its quarterly earnings data 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 firm had revenue of $3.73 billion for 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 firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, sell-side analysts expect that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors 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 yield of 4.22%. FirstEnergy's dividend payout ratio is currently 109.68%.

Wall Street Analysts Forecast Growth

FE has been the topic of several analyst reports. KeyCorp dropped their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group initiated coverage on FirstEnergy in a report on Monday, October 14th. They set a "hold" rating and a $46.00 target price on the stock. Bank of America upped their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. Finally, Argus upgraded FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $46.27.

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.