Versor Investments LP Has $696,000 Stake in FirstEnergy Corporation $FE

Versor Investments LP trimmed its position in shares of FirstEnergy Corporation (NYSE:FE) by 55.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,200 shares of the utilities provider’s stock after selling 19,300 shares during the period. Versor Investments LP’s holdings in FirstEnergy were worth $696,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SageView Advisory Group LLC boosted its position in shares of FirstEnergy by 2.3% in the second quarter. SageView Advisory Group LLC now owns 10,253 shares of the utilities provider’s stock worth $425,000 after buying an additional 233 shares during the period. Independent Advisor Alliance lifted its stake in FirstEnergy by 1.0% in the 3rd quarter. Independent Advisor Alliance now owns 23,225 shares of the utilities provider’s stock worth $1,064,000 after acquiring an additional 236 shares in the last quarter. CWM LLC boosted its position in FirstEnergy by 2.0% during the 2nd quarter. CWM LLC now owns 12,044 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 240 shares during the period. Kohmann Bosshard Financial Services LLC grew its stake in FirstEnergy by 0.5% during the 2nd quarter. Kohmann Bosshard Financial Services LLC now owns 48,454 shares of the utilities provider’s stock valued at $1,951,000 after acquiring an additional 241 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of FirstEnergy by 15.2% in the 2nd quarter. Manchester Capital Management LLC now owns 1,834 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on FE shares. Barclays decreased their price target on shares of FirstEnergy from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstEnergy in a research report on Monday, December 29th. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a report on Wednesday. UBS Group dropped their price target on shares of FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company reduced their price objective on FirstEnergy from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, FirstEnergy currently has a consensus rating of “Moderate Buy” and an average price target of $48.85.

FirstEnergy Stock Performance

FE stock opened at $47.95 on Thursday. The firm has a 50 day moving average of $45.69 and a two-hundred day moving average of $45.23. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $48.20. The company has a market capitalization of $27.70 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 2.72 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be issued a $0.465 dividend. This is a boost from FirstEnergy’s previous quarterly dividend of $0.45. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, May 7th. FirstEnergy’s dividend payout ratio is currently 77.73%.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.