Connor Clark & Lunn Investment Management Ltd. purchased a new stake in FirstEnergy Corp. (NYSE:FE) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,250 shares of the utilities provider’s stock, valued at approximately $979,000.

Other hedge funds have also added to or reduced their stakes in the company. Sawtooth Solutions LLC grew its stake in FirstEnergy by 3.7% during the first quarter. Sawtooth Solutions LLC now owns 41,960 shares of the utilities provider’s stock worth $1,427,000 after buying an additional 1,514 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in FirstEnergy by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 664,748 shares of the utilities provider’s stock worth $22,608,000 after buying an additional 1,662 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in FirstEnergy by 2.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 79,014 shares of the utilities provider’s stock worth $2,687,000 after buying an additional 1,703 shares in the last quarter. Van ECK Associates Corp grew its stake in FirstEnergy by 4.4% during the first quarter. Van ECK Associates Corp now owns 42,306 shares of the utilities provider’s stock worth $1,439,000 after buying an additional 1,765 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its stake in FirstEnergy by 15.1% during the second quarter. Beese Fulmer Investment Management Inc. now owns 13,697 shares of the utilities provider’s stock worth $492,000 after buying an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.

A number of research analysts have recently commented on FE shares. Zacks Investment Research cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Wells Fargo & Co raised shares of FirstEnergy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $27.93 to $34.30 in a report on Monday, April 30th. Morgan Stanley dropped their target price on shares of FirstEnergy from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, June 13th. Barclays started coverage on shares of FirstEnergy in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $39.00 target price for the company. Finally, Howard Weil started coverage on shares of FirstEnergy in a report on Tuesday, July 24th. They issued a “sector outperform” rating and a $39.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $37.57.

FE stock opened at $37.30 on Friday. The stock has a market capitalization of $17.61 billion, a PE ratio of 12.15, a P/E/G ratio of 2.46 and a beta of 0.24. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.47 and a quick ratio of 0.41. FirstEnergy Corp. has a 12 month low of $29.33 and a 12 month high of $37.52.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 31st. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.09. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. FirstEnergy had a negative net margin of 4.60% and a positive return on equity of 24.39%. During the same quarter in the prior year, the business earned $0.61 earnings per share. analysts anticipate that FirstEnergy Corp. will post 2.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 7th will be issued a $0.36 dividend. The ex-dividend date is Monday, August 6th. This represents a $1.44 dividend on an annualized basis and a yield of 3.86%. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.

FirstEnergy Company Profile

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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