E&G Advisors LP lowered its stake in shares of FirstEnergy Corp. (NYSE:FE) by 40.7% during the second quarter, Holdings Channel reports. The institutional investor owned 16,000 shares of the company’s stock after selling 11,000 shares during the period. E&G Advisors LP’s holdings in FirstEnergy Corp. were worth $559,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC increased its position in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock worth $160,000 after buying an additional 281 shares in the last quarter. City Holding Co. increased its position in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock worth $170,000 after buying an additional 782 shares in the last quarter. BB&T Securities LLC increased its position in shares of FirstEnergy Corp. by 9.4% in the first quarter. BB&T Securities LLC now owns 6,907 shares of the company’s stock worth $248,000 after buying an additional 595 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of FirstEnergy Corp. during the first quarter worth $266,000. Finally, Boothbay Fund Management LLC increased its position in shares of FirstEnergy Corp. by 16.7% in the first quarter. Boothbay Fund Management LLC now owns 7,765 shares of the company’s stock worth $279,000 after buying an additional 1,112 shares in the last quarter. 77.07% of the stock is owned by hedge funds and other institutional investors.

Shares of FirstEnergy Corp. (NYSE:FE) traded up 2.27% on Monday, reaching $33.74. 3,757,331 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $32.90 and its 200-day moving average price is $34.17. The stock’s market cap is $14.35 billion. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60.

FirstEnergy Corp. (NYSE:FE) last posted its earnings results on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. FirstEnergy Corp. had a negative net margin of 3.96% and a positive return on equity of 10.05%. During the same period in the previous year, the company earned $0.53 earnings per share. Equities analysts forecast that FirstEnergy Corp. will post $2.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 4.27%. FirstEnergy Corp.’s dividend payout ratio (DPR) is presently -103.60%.

A number of brokerages have weighed in on FE. Goldman Sachs Group Inc. downgraded shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $36.00 to $31.00 in a research note on Tuesday, July 26th. Citigroup Inc. boosted their target price on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, July 20th. Jefferies Group boosted their target price on shares of FirstEnergy Corp. from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, July 7th. Barclays PLC set a $36.00 target price on shares of FirstEnergy Corp. and gave the stock a “hold” rating in a research note on Saturday. Finally, Bank of America Corp. upgraded shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. FirstEnergy Corp. presently has a consensus rating of “Hold” and a consensus target price of $35.82.

FirstEnergy Corp. Company Profile

FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.

5 Day Chart for NYSE:FE

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