Simplicity Wealth LLC acquires 349 shares of FirstEnergy Corp. (NYSE:FE)

Simplicity Wealth LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE – Free Report) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,573 shares of the utilities provider’s stock after acquiring an additional 349 shares during the quarter. Simplicity Wealth LLC’s holdings in FirstEnergy were worth $366,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. lifted its position in shares of FirstEnergy by 6.2% in the first quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock worth $193,000 after purchasing an additional 290 shares during the period. Marcum Wealth LLC lifted its position in shares of FirstEnergy by 3.8% in the first quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock worth $308,000 after buying an additional 295 shares during the period. Greenleaf Trust lifted its position in shares of FirstEnergy by 3.1% in the first quarter. Greenleaf Trust now owns 9,736 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 295 shares during the period. Bessemer Group Inc. lifted its position in shares of FirstEnergy by 3.6% in the first quarter. Bessemer Group Inc. now owns 9,139 shares of the utilities provider’s stock worth $353,000 after purchasing an additional 315 shares during the period. Finally, Allworth Financial LP lifted its position in shares of FirstEnergy by 9.3% in the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 318 shares during the period. 89.41% of shares are held by institutional investors.

FirstEnergy stock performance

FE opened at $41.97 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.56, and a debt-to-equity ratio of 1.52. The company’s fifty day moving average price is $39.61 and its two hundred day moving average price is $38.59. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $43.65. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.69 and a beta of 0.49.

FirstEnergy (NYSE:FE – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. In the same quarter last year, the company posted earnings of $0.47 per share. On average, analysts expect that FirstEnergy Corp. to record 2.7 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.425 dividend. The ex-dividend date is Wednesday, August 7. This represents an annualized dividend of $1.70 and a dividend yield of 4.05%. FirstEnergy’s payout ratio is 97.70%.

Analyst upgrades and downgrades

A number of research analysts recently issued reports on FE shares. Bank of America upped their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upped their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley dropped their target price on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Barclays upped their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Finally, Scotiabank decreased their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.55, according to MarketBeat.com.

Get the latest stock report on FirstEnergy

FirstEnergy profile

(Free report)

FirstEnergy Corp., through its subsidiaries, generates, transmits and distributes electricity in the United States. It operates through regulated distribution and regulated transportation segments. The company owns and operates coal, nuclear, hydroelectric, wind and solar power generation facilities.

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