FirstEnergy Corp. (NYSE:FE) Shares Sold by Lumbard & Kellner LLC

Lumbard & Kellner LLC lowered its stake in FirstEnergy Corp. (NYSE:FE) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 65,580 shares of the utilities provider’s stock after selling 427 shares during the quarter. Lumbard & Kellner LLC’s holdings in FirstEnergy were worth $2,510,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. FinTrust Capital Advisors LLC lifted its holdings in 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 purchasing an additional 610 shares during the period. ST Germain D J Co. Inc. increased its holdings in shares of FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 615 shares during the period. Sachetta LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at about $25,000. Scarborough Advisors LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at about $31,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of FirstEnergy in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Down 1.5 %

Shares of FirstEnergy stock opened at $43.69 on Wednesday. The stock has a market capitalization of $25.14 billion, a P/E ratio of 25.11, a PEG ratio of 2.32 and a beta of 0.50. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The stock has a 50 day moving average price of $42.25 and a two-hundred day moving average price of $39.88. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities analysts expect that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.425 per share. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a yield of 3.89%. FirstEnergy’s payout ratio is currently 97.70%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FE. Wells Fargo & Company upped their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Bank of America boosted their price target on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley boosted their price target on FirstEnergy from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Scotiabank boosted their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, KeyCorp boosted their price target on FirstEnergy from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.60.

FirstEnergy Company Profile

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.