FDx Advisors Inc. cut its holdings in FirstEnergy Corp. (NYSE:FE) by 64.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,288 shares of the utilities provider’s stock after selling 16,712 shares during the period. FDx Advisors Inc.’s holdings in FirstEnergy were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Banco de Sabadell S.A lifted its holdings in FirstEnergy by 0.9% in the second quarter. Banco de Sabadell S.A now owns 152,375 shares of the utilities provider’s stock valued at $5,493,000 after acquiring an additional 1,401 shares during the last quarter. Synovus Financial Corp lifted its holdings in FirstEnergy by 6.8% in the third quarter. Synovus Financial Corp now owns 22,477 shares of the utilities provider’s stock valued at $832,000 after acquiring an additional 1,434 shares during the last quarter. Ffcm LLC lifted its holdings in FirstEnergy by 9.3% in the third quarter. Ffcm LLC now owns 17,431 shares of the utilities provider’s stock valued at $648,000 after acquiring an additional 1,486 shares during the last quarter. Bank of Hawaii lifted its holdings in FirstEnergy by 10.3% in the third quarter. Bank of Hawaii now owns 16,940 shares of the utilities provider’s stock valued at $630,000 after acquiring an additional 1,575 shares during the last quarter. Finally, World Asset Management Inc lifted its holdings in FirstEnergy by 5.3% in the third quarter. World Asset Management Inc now owns 31,834 shares of the utilities provider’s stock valued at $1,183,000 after acquiring an additional 1,616 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

A number of research analysts recently commented on FE shares. Morgan Stanley upped their price objective on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Wells Fargo & Co restated a “buy” rating and set a $42.00 price target (up from $41.00) on shares of FirstEnergy in a research note on Monday, September 17th. Citigroup upped their price target on FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Wednesday, October 10th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.00.

NYSE:FE opened at $39.08 on Friday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.41 and a current ratio of 0.45. FirstEnergy Corp. has a 52 week low of $29.33 and a 52 week high of $39.38. The firm has a market cap of $19.72 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.52 and a beta of 0.30.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.82 billion. As a group, analysts anticipate that FirstEnergy Corp. will post 2.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be paid a $0.38 dividend. This is a boost from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.

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FirstEnergy 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.

Further Reading: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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