FirstEnergy Corp. (FE) Shares Bought by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC increased its holdings in FirstEnergy Corp. (NYSE:FE) by 90.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,470 shares of the utilities provider’s stock after purchasing an additional 43,085 shares during the period. FirstEnergy accounts for 0.9% of Quantitative Systematic Strategies LLC’s holdings, making the stock its 14th biggest holding. Quantitative Systematic Strategies LLC’s holdings in FirstEnergy were worth $3,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lake Point Wealth Management bought a new stake in FirstEnergy in the 4th quarter worth approximately $25,000. Legacy Advisors LLC bought a new stake in FirstEnergy in the 1st quarter worth approximately $33,000. Whittier Trust Co. of Nevada Inc. bought a new stake in FirstEnergy in the 4th quarter worth approximately $34,000. Kaizen Advisory LLC increased its position in shares of 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 purchasing an additional 254 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in shares of 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 purchasing an additional 666 shares during the last quarter. 90.75% of the stock is currently owned by institutional investors.

In related news, EVP Leila L. Vespoli sold 24,400 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

Shares of NYSE FE traded down $0.09 during trading hours on Monday, hitting $41.28. 2,738,387 shares of the company traded hands, compared to its average volume of 5,030,283. The company has a market cap of $21.99 billion, a P/E ratio of 15.94 and a beta of 0.30. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.46 and a current ratio of 0.52. FirstEnergy Corp. has a 12 month low of $32.92 and a 12 month high of $42.13.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities analysts predict that FirstEnergy Corp. will post 2.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s payout ratio is currently 58.69%.

Several equities analysts have recently weighed in on FE shares. Morgan Stanley set a $38.00 target price on FirstEnergy and gave the company a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $42.86.

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FirstEnergy Company 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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