Bank of Hawaii Purchases 488 Shares of FirstEnergy Corp. (NYSE:FE)

Bank of Hawaii lifted its position in shares of FirstEnergy Corp. (NYSE:FE) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,491 shares of the utilities provider’s stock after purchasing an additional 488 shares during the period. Bank of Hawaii’s holdings in FirstEnergy were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FE. Boston Partners raised its stake in FirstEnergy by 2.3% in the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after purchasing an additional 218,165 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of FirstEnergy by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after buying an additional 457,231 shares in the last quarter. First Pacific Advisors LP boosted its stake in shares of FirstEnergy by 2.0% in the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock valued at $136,152,000 after buying an additional 69,512 shares during the period. 1832 Asset Management L.P. grew its position in FirstEnergy by 7.6% during the second quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock worth $104,288,000 after buying an additional 193,540 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in FirstEnergy by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,896,140 shares of the utilities provider’s stock valued at $72,570,000 after acquiring an additional 104,253 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FE has been the topic of several analyst reports. Wells Fargo & Company increased their target price on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Scotiabank raised their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. KeyCorp upped their price target on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.91.

FirstEnergy Stock Up 0.6 %

Shares of NYSE:FE opened at $42.04 on Tuesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. FirstEnergy Corp. has a 52-week low of $35.41 and a 52-week high of $44.97. The company has a market capitalization of $24.23 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.51. The company has a fifty day moving average of $42.83 and a 200-day moving average of $41.47.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, equities analysts predict that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.04%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

FirstEnergy Company Profile

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.