TD Private Client Wealth LLC Boosts Holdings in FirstEnergy Corp. (NYSE:FE)

TD Private Client Wealth LLC grew its position in FirstEnergy Corp. (NYSE:FE) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,949 shares of the utilities provider’s stock after purchasing an additional 382 shares during the quarter. TD Private Client Wealth LLC’s holdings in FirstEnergy were worth $486,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in FirstEnergy by 1,417.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after purchasing an additional 694,313 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in FirstEnergy by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after purchasing an additional 457,231 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of FirstEnergy in the second quarter worth $14,933,000. Los Angeles Capital Management LLC lifted its stake in shares of FirstEnergy by 1,178.5% during the second quarter. Los Angeles Capital Management LLC now owns 286,824 shares of the utilities provider’s stock worth $10,977,000 after buying an additional 264,389 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of FirstEnergy by 4,445.0% during the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after buying an additional 214,606 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Price Performance

NYSE:FE opened at $40.27 on Friday. The company has a 50 day moving average price of $42.13 and a 200-day moving average price of $41.61. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

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). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.22%. FirstEnergy’s dividend payout ratio is currently 109.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FE shares. Barclays raised their target price on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group initiated coverage on FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. KeyCorp reduced their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.27.

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.