C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 11,124 shares of the utilities provider's stock, valued at approximately $443,000.
Several other institutional investors and hedge funds also recently made changes to their positions in FE. Kestra Investment Management LLC acquired a new stake in FirstEnergy in the fourth quarter worth $26,000. True Wealth Design LLC increased its holdings in shares of FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 640 shares during the period. WASHINGTON TRUST Co increased its holdings in shares of FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 586 shares during the period. Cedar Mountain Advisors LLC acquired a new position in shares of FirstEnergy during the fourth quarter valued at $34,000. Finally, Quarry LP increased its holdings in shares of 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 purchasing an additional 320 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on FE. Scotiabank raised FirstEnergy from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. KeyCorp decreased their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Wolfe Research cut FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their target price on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Finally, Seaport Res Ptn cut FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $46.27.
Check Out Our Latest Research Report on FE
FirstEnergy Trading Up 2.3 %
Shares of NYSE:FE traded up $0.96 during midday trading on Friday, reaching $42.34. The company had a trading volume of 7,878,474 shares, compared to its average volume of 3,865,842. FirstEnergy Corp. has a 1-year low of $36.01 and a 1-year high of $44.97. The firm has a market cap of $24.40 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 2.07 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. The company has a fifty day simple moving average of $39.89 and a two-hundred day simple moving average of $41.77.
FirstEnergy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.01%. FirstEnergy's payout ratio is presently 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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