Cambridge Investment Research Advisors Inc. trimmed its stake in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,654 shares of the utilities provider's stock after selling 2,612 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in FirstEnergy were worth $3,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FE. Dixon Hughes Goodman Wealth Advisors LLC boosted its holdings in FirstEnergy by 419.8% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 551 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 445 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of FirstEnergy in the first quarter valued at approximately $25,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of FirstEnergy in the fourth quarter valued at approximately $27,000. Pinnacle Bancorp Inc. raised its stake in shares of FirstEnergy by 126.3% in the first quarter. Pinnacle Bancorp Inc. now owns 611 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 341 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of FirstEnergy in the first quarter valued at approximately $32,000. 87.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. KeyCorp cut their target price on shares of FirstEnergy from $51.00 to $47.00 and set an "overweight" rating for the company in a research note on Tuesday, July 19th. Mizuho cut their target price on shares of FirstEnergy from $41.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, June 7th. StockNews.com cut shares of FirstEnergy from a "buy" rating to a "hold" rating in a research note on Thursday, August 4th. Morgan Stanley raised their price target on shares of FirstEnergy from $49.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, August 23rd. Finally, Barclays lowered their price target on shares of FirstEnergy from $49.00 to $41.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $45.75.

FirstEnergy Price Performance

FirstEnergy (NYSE:FE – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. FirstEnergy had a net margin of 11.78% and a return on equity of 15.13%. During the same period in the previous year, the firm earned $0.59 EPS. As a group, analysts forecast that FirstEnergy Corp. will post 2.42 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 4th. This represents a $1.56 dividend on an annualized basis and a yield of 4.08%. FirstEnergy's payout ratio is presently 63.41%.

FirstEnergy Profile

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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, natural gas, wind, and solar power generating facilities.

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