AHL Investment Management Inc. purchased a new stake in FirstEnergy Corp. (NYSE:FE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,095 shares of the utilities provider's stock, valued at approximately $879,000.
A number of other institutional investors have also recently modified their holdings of FE. Livelsberger Financial Advisory purchased a new stake in FirstEnergy during the third quarter worth $26,000. True Wealth Design LLC raised its stake in shares of FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock worth $29,000 after buying an additional 640 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy in the 2nd quarter valued at about $32,000. Quarry LP raised its position in FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider's stock worth $38,000 after acquiring an additional 320 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of FirstEnergy by 48.4% in the third quarter. UMB Bank n.a. now owns 997 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 325 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Barclays upped their target price on FirstEnergy from $40.00 to $46.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Scotiabank raised shares of FirstEnergy from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Jefferies Financial Group began coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a "hold" rating and a $46.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, KeyCorp decreased their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and an average target price of $46.27.
Check Out Our Latest Research Report on FE
FirstEnergy Stock Performance
Shares of FE traded down $0.16 during midday trading on Monday, hitting $39.92. 4,082,352 shares of the stock traded hands, compared to its average volume of 2,295,186. The business's 50 day moving average price is $40.53 and its two-hundred day moving average price is $41.78. The firm has a market capitalization of $23.01 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.93 and a beta of 0.52. 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 1-year low of $35.41 and a 1-year high of $44.97.
FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share 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 analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 EPS. Equities research analysts predict that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.
FirstEnergy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a $0.425 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.26%. FirstEnergy's dividend payout ratio is currently 109.68%.
About FirstEnergy
(
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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