GSA Capital Partners LLP Invests $964,000 in FirstEnergy Corporation $FE

GSA Capital Partners LLP bought a new position in FirstEnergy Corporation (NYSE:FE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 20,288 shares of the utilities provider’s stock, valued at approximately $964,000.

Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of FirstEnergy by 11,305.6% in the 4th 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. Vanguard Group Inc. boosted its holdings in FirstEnergy by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock valued at $3,049,255,000 after acquiring an additional 761,157 shares during the last quarter. Intech Investment Management LLC grew its position in FirstEnergy by 42.8% during the fourth 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. grew its position in FirstEnergy by 6,066.6% during the second 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. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in FirstEnergy during the fourth quarter worth about $15,172,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Down 0.3%

Shares of FirstEnergy stock opened at $47.26 on Wednesday. FirstEnergy Corporation has a twelve month low of $42.72 and a twelve month high of $52.34. The stock 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. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. The company has a fifty day moving average price of $47.91 and a 200 day moving average price of $48.32.

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

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given 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 payout ratio is 98.94%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Jefferies Financial Group raised their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. New Street Research set a $52.00 target price on shares of FirstEnergy in a research report on Tuesday, April 21st. Wolfe Research lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings cut shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.83.

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.