denkapparat Operations GmbH Boosts Holdings in FirstEnergy Corporation $FE

denkapparat Operations GmbH grew its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 49.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,572 shares of the utilities provider’s stock after acquiring an additional 12,824 shares during the quarter. FirstEnergy comprises 0.6% of denkapparat Operations GmbH’s investment portfolio, making the stock its 23rd largest position. denkapparat Operations GmbH’s holdings in FirstEnergy were worth $1,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of FirstEnergy by 11,305.6% in 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 buying an additional 1,957,673 shares during the period. Intech Investment Management LLC boosted its holdings in FirstEnergy by 42.8% during the 4th quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock valued at $3,817,000 after acquiring an additional 25,571 shares during the period. Assenagon Asset Management S.A. boosted its holdings in FirstEnergy by 6,066.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 495,299 shares of the utilities provider’s stock valued at $23,547,000 after acquiring an additional 487,267 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in FirstEnergy during the 4th quarter worth approximately $15,172,000. Finally, Bryn Mawr Trust Advisors LLC bought a new position in FirstEnergy during the 2nd quarter worth approximately $9,878,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FE. Morgan Stanley lowered their price target on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, August 21st. Weiss Ratings lowered shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. TD Cowen upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and decreased their price objective for the company from $56.00 to $53.00 in a research report on Friday, May 15th. Barclays lowered their price objective on shares of FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Finally, UBS Group increased 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. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Stock Performance

Shares of FE stock opened at $46.98 on Friday. The company’s fifty day moving average price is $47.78 and its 200-day moving average price is $48.24. The stock has a market cap of $27.18 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. FirstEnergy Corporation has a 12 month low of $42.87 and a 12 month high of $52.34.

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 analysts’ consensus estimates of $0.50. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.51 billion. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.During the same quarter last year, the company earned $0.52 EPS. On average, equities analysts expect that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 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.