Stone House Investment Management LLC Buys New Stake in FirstEnergy Corp. (FE)

Stone House Investment Management LLC purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,843 shares of the utilities provider’s stock, valued at approximately $77,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lake Point Wealth Management bought a new position in FirstEnergy during the 4th quarter valued at approximately $25,000. Legacy Advisors LLC bought a new position in FirstEnergy during the 1st quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. bought a new position in FirstEnergy during the 4th quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC increased its position in FirstEnergy by 98.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after buying an additional 666 shares in the last quarter. Finally, Kaizen Advisory LLC increased its position in FirstEnergy by 23.6% during the 4th quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock valued at $50,000 after buying an additional 254 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Several brokerages have commented on FE. Zacks Investment Research upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Wednesday. Morgan Stanley set a $44.00 target price on FirstEnergy and gave the company a “buy” rating in a research note on Friday, April 5th. Bank of America increased their target price on FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $46.00 in a research note on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $42.86.

FE stock opened at $42.50 on Friday. The firm has a market capitalization of $22.59 billion, a PE ratio of 16.41, a PEG ratio of 2.71 and a beta of 0.30. FirstEnergy Corp. has a 1 year low of $32.92 and a 1 year high of $42.53. The company has a current ratio of 0.54, a quick ratio of 0.47 and a debt-to-equity ratio of 2.72.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.01). The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.88 billion. FirstEnergy had a return on equity of 21.90% and a net margin of 2.63%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $0.67 earnings per share. On average, equities research analysts expect that FirstEnergy Corp. will post 2.59 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.38 per share. The ex-dividend date is Monday, May 6th. This represents a $1.52 annualized dividend and a yield of 3.58%. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.

In related news, EVP Leila L. Vespoli sold 24,400 shares of FirstEnergy stock in a transaction on Monday, March 11th. The stock was sold at an average price of $41.33, for a total transaction of $1,008,452.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

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About FirstEnergy

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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