Rhumbline Advisers has $36.80M position in FirstEnergy Corp. (NYSE:FE)

Rhumbline Advisers raised its stake in FirstEnergy Corp. (NYSE:FE – Free Report) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 961,533 shares of the utilities provider’s stock after acquiring an additional 2,826 shares during the period. Rhumbline Advisers owned 0.17% of FirstEnergy worth $36,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. boosted its holdings 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 valued at $193,000 after buying an additional 290 shares in the last quarter. Marcum Wealth LLC boosted its holdings 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 valued at $308,000 after buying an additional 295 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of FirstEnergy by 3.1% in the first quarter. Greenleaf Trust now owns 9,736 shares of the utilities provider’s stock valued at $376,000 after buying an additional 295 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of FirstEnergy by 16.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,243 shares of the utilities provider’s stock valued at $87,000 after buying an additional 312 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings 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 valued at $353,000 after buying an additional 315 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s shares.

The Wall Street analyst weighs in

FE has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America raised their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. KeyCorp raised their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Scotiabank raised their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, Mizuho raised their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.27, according to MarketBeat.com.

Check out our latest FE report

FirstEnergy price performance

Shares of FE stock opened at $44.47 on Friday. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $44.97. The firm has a market cap of $25.59 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. 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 firm has a fifty day moving average of $41.32 and a 200 day moving average of $39.44.

FirstEnergy (NYSE:FE – Get Your Free Report ) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period in the previous year, the firm posted EPS of $0.47. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.71 earnings per share for the current year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.425 dividend. The ex-dividend date was Wednesday, August 7. This represents an annualized dividend of $1.70 and a yield of 3.82%. FirstEnergy’s dividend payout ratio is currently 97.70%.

FirstEnergy Company 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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