Energy Income Partners LLC Buys New Holdings in FirstEnergy Corporation $FE

Energy Income Partners LLC bought a new position in FirstEnergy Corporation (NYSE:FE) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 2,053,059 shares of the utilities provider’s stock, valued at approximately $97,602,000. FirstEnergy accounts for 1.5% of Energy Income Partners LLC’s holdings, making the stock its 22nd biggest position.

A number of other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its stake in 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 during the period. Vanguard Group Inc. grew its stake in shares of FirstEnergy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock valued at $3,049,255,000 after purchasing an additional 761,157 shares during the period. Intech Investment Management LLC grew its stake in shares of FirstEnergy by 42.8% in the 4th quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock valued at $3,817,000 after purchasing an additional 25,571 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of FirstEnergy by 6,066.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 495,299 shares of the utilities provider’s stock worth $23,547,000 after buying an additional 487,267 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $15,172,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Down 0.3%

Shares of NYSE FE opened at $47.26 on Wednesday. FirstEnergy Corporation has a 12-month low of $42.72 and a 12-month high of $52.34. The firm’s 50-day simple moving average is $47.91 and its 200 day simple moving average is $48.32. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88. The company has a market cap of $27.35 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 2.27 and a beta of 0.46.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the company posted $0.52 EPS. On average, research analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 98.94%.

Analysts Set New Price Targets

A number of analysts have weighed in on FE shares. Barclays lowered their price target on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 target price on shares of FirstEnergy in a research note on Tuesday, April 21st. UBS Group upped their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. New Street Research set a $52.00 price target on shares of FirstEnergy in a report on Tuesday, April 21st. Finally, Weiss Ratings cut shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.83.

FirstEnergy Profile

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.