FirstEnergy Corp. (NYSE:FE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,235 shares of the utilities provider’s stock after selling 2,945 shares during the quarter. Victory Capital Management Inc.’s holdings in FirstEnergy were worth $46,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. increased 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 FirstEnergy during the 3rd quarter valued at $26,000. Strategic Investment Solutions Inc. IL purchased a new position in FirstEnergy during the second quarter worth $32,000. Western Pacific Wealth Management LP purchased a new position in FirstEnergy during the first quarter worth $36,000. Finally, West Oak Capital LLC acquired a new position in shares of FirstEnergy in the second quarter worth $38,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $41.52 on Friday. The company has a market cap of $23.93 billion, a P/E ratio of 26.78, a P/E/G ratio of 2.22 and a beta of 0.51. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97. The business has a fifty day simple moving average of $43.18 and a 200-day simple moving average of $41.30.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm posted $0.88 EPS. FirstEnergy’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that FirstEnergy Corp. will post 2.69 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Analysts Set New Price Targets

FE has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Jefferies Financial Group initiated coverage on FirstEnergy in a 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 target for the company in a report on Friday, September 20th. Finally, Morgan Stanley boosted their price target on FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.00.

About FirstEnergy

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.