FirstEnergy Corporation $FE Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its position in shares of FirstEnergy Corporation (NYSE:FE) by 75.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,240 shares of the utilities provider’s stock after selling 88,840 shares during the quarter. SG Americas Securities LLC’s holdings in FirstEnergy were worth $1,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FE. Brighton Jones LLC purchased a new position in FirstEnergy in the fourth quarter valued at approximately $256,000. Integrated Wealth Concepts LLC acquired a new stake in shares of FirstEnergy in the first quarter worth $289,000. Empowered Funds LLC raised its stake in shares of FirstEnergy by 7.0% in the 1st quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider’s stock valued at $453,000 after acquiring an additional 732 shares during the period. Woodline Partners LP lifted its holdings in shares of FirstEnergy by 40.7% during the 1st quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider’s stock valued at $1,752,000 after acquiring an additional 12,531 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in FirstEnergy by 6.8% during the 1st quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider’s stock worth $856,000 after purchasing an additional 1,340 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

FirstEnergy stock opened at $47.33 on Friday. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $48.20. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80. The stock has a market cap of $27.34 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The stock has a 50 day moving average of $45.47 and a 200-day moving average of $44.38.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. On average, analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, February 6th. FirstEnergy’s dividend payout ratio is 77.73%.

Analyst Ratings Changes

Several research analysts have commented on the company. Mizuho raised their price objective on FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Citigroup assumed coverage on FirstEnergy in a report on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price on the stock. UBS Group reduced their price target on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Scotiabank increased their price objective on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstEnergy in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.75.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid?Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.