Tyler Stone Wealth Management Grows Position in FirstEnergy Corp. (NYSE:FE)

Tyler Stone Wealth Management boosted its position in FirstEnergy Corp. (NYSE:FE) by 94.4% during the third quarter, Holdings Channel.com reports. The fund owned 22,817 shares of the utilities provider’s stock after acquiring an additional 11,081 shares during the period. Tyler Stone Wealth Management’s holdings in FirstEnergy were worth $1,012,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. ST Germain D J Co. Inc. increased its stake in shares of FirstEnergy by 1,138.9% during the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after buying an additional 615 shares during the period. Livelsberger Financial Advisory bought a new position in FirstEnergy in the third quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of FirstEnergy during the 2nd quarter worth approximately $32,000. Western Pacific Wealth Management LP bought a new position in shares of FirstEnergy in the 1st quarter worth approximately $36,000. Finally, West Oak Capital LLC purchased a new position in shares of FirstEnergy in the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FE shares. Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, September 20th. Barclays lifted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley raised their target price on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group started coverage on FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.00.

FirstEnergy Price Performance

Shares of FE traded up $0.31 during trading hours on Friday, reaching $41.54. 2,812,948 shares of the stock traded hands, compared to its average volume of 2,894,702. The company has a market cap of $23.94 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.23 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The company’s 50-day moving average price is $43.42 and its two-hundred day moving average price is $41.22. FirstEnergy Corp. has a 52-week low of $34.92 and a 52-week high of $44.97.

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

FirstEnergy Announces Dividend

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

FirstEnergy 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.