Strategic Wealth Partners Ltd. Sells 294 Shares of FirstEnergy Corp. (NYSE:FE)

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Strategic Wealth Partners Ltd. reduced its position in FirstEnergy Corp. (NYSE:FE) by 12.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,139 shares of the utilities provider’s stock after selling 294 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in FirstEnergy were worth $91,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Clean Yield Group lifted its position in FirstEnergy by 1,184.0% in the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the period. Horan Securities Inc. bought a new position in shares of FirstEnergy during the second quarter valued at $28,000. Meeder Asset Management Inc. lifted its holdings in shares of FirstEnergy by 805.3% during the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 604 shares during the period. Zions Bancorporation N.A. bought a new position in shares of FirstEnergy during the first quarter valued at $30,000. Finally, Destination Wealth Management bought a new position in shares of FirstEnergy during the first quarter valued at $35,000. 94.38% of the stock is owned by hedge funds and other institutional investors.

In other FirstEnergy news, Director Christopher D. Pappas bought 3,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $41.14 per share, for a total transaction of $123,420.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

A number of research analysts have issued reports on FE shares. Mizuho cut their price objective on FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. KeyCorp reissued an “overweight” rating and set a $46.00 price objective on shares of FirstEnergy in a report on Wednesday, June 5th. TheStreet cut FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. Finally, Zacks Investment Research cut FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price objective for the company. in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.00.

Shares of NYSE:FE traded down $0.71 during midday trading on Friday, reaching $44.99. The company’s stock had a trading volume of 2,867,912 shares, compared to its average volume of 4,968,595. FirstEnergy Corp. has a fifty-two week low of $35.33 and a fifty-two week high of $45.90. The company has a market capitalization of $24.68 billion, a P/E ratio of 17.37, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. The business’s fifty day simple moving average is $44.02 and its 200-day simple moving average is $42.16.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that FirstEnergy Corp. will post 2.5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.38%. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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