FirstEnergy Corp. (NYSE:FE) Holdings Decreased by Baker Tilly Wealth Management LLC

by · The Cerbat Gem

Baker Tilly Wealth Management LLC reduced its holdings in FirstEnergy Corp. (NYSE:FE – Free Report) by 29.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,455 shares of the utilities provider’s stock after selling 3,129 shares during the period. Baker Tilly Wealth Management LLC’s holdings in FirstEnergy were worth $331,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC increased its stake in shares of FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in shares of FirstEnergy by 1,138.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 615 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of FirstEnergy during the 3rd quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of FirstEnergy in the 2nd quarter valued at approximately $32,000. Finally, Western Pacific Wealth Management LP acquired a new position in FirstEnergy in the first quarter worth approximately $36,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on FE. Wells Fargo & Company boosted their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Jefferies Financial Group assumed coverage on FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, September 20th. KeyCorp upped their target price on FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley lifted their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.00.

View Our Latest Stock Analysis on FE

FirstEnergy Stock Up 0.6 %

NYSE FE opened at $43.68 on Tuesday. FirstEnergy Corp. has a twelve month low of $34.92 and a twelve month high of $44.97. The stock has a market cap of $25.16 billion, a PE ratio of 30.98, a PEG ratio of 2.28 and a beta of 0.50. The firm has a 50-day simple moving average of $43.70 and a 200 day simple moving average of $41.00. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51.

FirstEnergy (NYSE:FE – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same quarter last year, the firm earned $0.47 EPS. On average, research analysts forecast that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 120.57%.

About FirstEnergy

(Free Report)

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

Featured Articles

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE – Free Report).