Twin Capital Management Inc. Reduces Stake in FirstEnergy Corp. (NYSE:FE)

Twin Capital Management Inc. reduced its stake in FirstEnergy Corp. (NYSE:FE) by 28.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 288,960 shares of the utilities provider’s stock after selling 114,280 shares during the quarter. FirstEnergy makes up approximately 0.9% of Twin Capital Management Inc.’s investment portfolio, making the stock its 29th largest position. Twin Capital Management Inc. owned about 0.05% of FirstEnergy worth $12,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clean Yield Group grew its holdings in shares of FirstEnergy by 1,184.0% during the 2nd quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the period. Horan Securities Inc. purchased a new position in shares of FirstEnergy during the 2nd quarter worth $28,000. Zions Bancorporation N.A. purchased a new position in shares of FirstEnergy during the 1st quarter worth $30,000. Destination Wealth Management purchased a new position in shares of FirstEnergy during the 1st quarter worth $35,000. Finally, Coastal Capital Group Inc. purchased a new position in FirstEnergy during the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

A number of equities analysts recently commented on the company. KeyCorp restated an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a report on Wednesday, June 5th. TheStreet lowered FirstEnergy from a “b” rating to a “f” rating in a research report on Thursday, July 18th. Mizuho reduced their price target on FirstEnergy from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Zacks Investment Research lowered FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price target on the stock. in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.00.

Shares of NYSE FE traded up $0.57 during midday trading on Thursday, hitting $44.10. 125,631 shares of the company’s stock were exchanged, compared to its average volume of 4,894,752. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.53 and a current ratio of 0.60. FirstEnergy Corp. has a twelve month low of $35.33 and a twelve month high of $44.75. The company has a market cap of $23.70 billion, a P/E ratio of 17.04, a PEG ratio of 2.97 and a beta of 0.27. The firm has a fifty day simple moving average of $43.68.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $0.62 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. On average, analysts anticipate that FirstEnergy Corp. will post 2.5 EPS for the current fiscal year.

The firm 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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Tuesday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.

In other FirstEnergy news, Director Christopher D. Pappas bought 3,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $41.14 per share, with a total value of $123,420.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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