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AdvisorNet Financial Inc Boosts Stock Position in FirstEnergy Corp. (NYSE:FE)

FirstEnergy logo with Utilities background

AdvisorNet Financial Inc lifted its position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 6,689.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,727 shares of the utilities provider's stock after acquiring an additional 10,569 shares during the period. AdvisorNet Financial Inc's holdings in FirstEnergy were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FE. Balanced Wealth Group LLC lifted its holdings in FirstEnergy by 0.9% in the third quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider's stock valued at $1,186,000 after acquiring an additional 241 shares during the period. Commonwealth Financial Services LLC lifted its stake in shares of FirstEnergy by 4.4% in the 2nd quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider's stock worth $226,000 after purchasing an additional 249 shares during the period. Metis Global Partners LLC boosted its holdings in shares of FirstEnergy by 1.7% in the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider's stock worth $750,000 after buying an additional 288 shares during the last quarter. Quarry LP grew its position in FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider's stock valued at $38,000 after buying an additional 320 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in FirstEnergy by 3.5% during the third quarter. V Square Quantitative Management LLC now owns 9,514 shares of the utilities provider's stock valued at $422,000 after buying an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FE. Argus upgraded shares of FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Friday, September 20th. KeyCorp lowered their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley reduced their price target on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Scotiabank raised FirstEnergy from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. Finally, Seaport Res Ptn downgraded FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $46.27.

Get Our Latest Analysis on FirstEnergy

FirstEnergy Price Performance

NYSE FE traded up $0.86 during trading hours on Thursday, reaching $40.08. The company's stock had a trading volume of 2,881,555 shares, compared to its average volume of 2,712,496. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $23.10 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.93 and a beta of 0.52. The firm's 50-day moving average price is $40.59 and its 200-day moving average price is $41.73.

FirstEnergy (NYSE:FE - Get Free Report) last released 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 company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. On average, equities research analysts predict that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be issued a $0.425 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.24%. FirstEnergy's dividend payout ratio (DPR) is 109.68%.

FirstEnergy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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