AXQ Capital LP Makes New $262,000 Investment in FirstEnergy Corp. (NYSE:FE)

AXQ Capital LP bought a new position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,591 shares of the utilities provider's stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners raised its holdings in shares of FirstEnergy by 73.5% in the 4th quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock valued at $656,309,000 after purchasing an additional 6,991,866 shares during the period. Amundi lifted its position in shares of FirstEnergy by 103.8% in the fourth quarter. Amundi now owns 1,843,964 shares of the utilities provider's stock valued at $73,334,000 after buying an additional 939,240 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of FirstEnergy during the 4th quarter worth approximately $30,069,000. Wedge Capital Management L L P NC bought a new stake in FirstEnergy in the 4th quarter valued at $12,198,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in FirstEnergy by 2.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider's stock valued at $371,911,000 after purchasing an additional 220,433 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

NYSE:FE traded up $0.93 during mid-day trading on Thursday, reaching $39.41. The stock had a trading volume of 6,893,833 shares, compared to its average volume of 3,172,988. FirstEnergy Corp. has a 12 month low of $36.81 and a 12 month high of $44.97. The stock has a market capitalization of $22.72 billion, a PE ratio of 25.42, a P/E/G ratio of 2.07 and a beta of 0.48. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The stock has a 50-day simple moving average of $39.90 and a two-hundred day simple moving average of $41.20.

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FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, equities analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a dividend yield of 4.52%. FirstEnergy's payout ratio is 104.71%.

Analyst Ratings Changes

FE has been the topic of several research analyst reports. Guggenheim dropped their price objective on shares of FirstEnergy from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. KeyCorp lowered their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Morgan Stanley reduced their price objective on FirstEnergy from $52.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. UBS Group increased their target price on FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price target on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, FirstEnergy has an average rating of "Hold" and an average price target of $45.00.

About FirstEnergy

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.