Trivium Point Advisory LLC Takes $849,000 Position in FirstEnergy Corporation $FE

Trivium Point Advisory LLC bought a new stake in FirstEnergy Corporation (NYSE:FE) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 17,852 shares of the utilities provider’s stock, valued at approximately $849,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in FirstEnergy in the fourth quarter valued at $123,018,000. BROOKFIELD Corp ON purchased a new position in shares of FirstEnergy during the fourth quarter worth about $110,332,000. Boston Partners grew its holdings in shares of FirstEnergy by 13.5% during the third quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock worth $841,161,000 after purchasing an additional 2,185,400 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of FirstEnergy by 56.0% during the fourth quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider’s stock worth $246,515,000 after purchasing an additional 1,977,504 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of FirstEnergy by 11,305.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock worth $81,699,000 after purchasing an additional 1,957,673 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FE shares. Barclays reduced their target price on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, July 22nd. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and cut their price target for the stock from $56.00 to $53.00 in a research report on Friday, May 15th. UBS Group boosted their price objective on FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Jefferies Financial Group increased their price objective on FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, FirstEnergy presently has a consensus rating of “Moderate Buy” and an average target price of $52.83.

FirstEnergy Trading Up 0.0%

NYSE FE opened at $47.42 on Monday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. The firm has a market cap of $27.44 billion, a PE ratio of 25.22, a P/E/G ratio of 2.27 and a beta of 0.46. FirstEnergy Corporation has a one year low of $42.72 and a one year high of $52.34. The firm’s fifty day moving average is $47.85 and its two-hundred day moving average is $48.32.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the company earned $0.52 earnings per share. Analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.465 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 3.9%. FirstEnergy’s dividend payout ratio is currently 98.94%.

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.