Decade Renewable Partners LP Takes Position in FirstEnergy Corp. (NYSE:FE)

Decade Renewable Partners LP purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 123,900 shares of the utilities provider's stock, valued at approximately $4,929,000. FirstEnergy accounts for about 2.4% of Decade Renewable Partners LP's investment portfolio, making the stock its 19th biggest position.

Other large investors have also bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new position in FirstEnergy in the 4th quarter worth about $12,198,000. Schroder Investment Management Group raised its holdings in shares of FirstEnergy by 56.0% during the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock valued at $1,933,000 after acquiring an additional 17,506 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of FirstEnergy by 41.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider's stock valued at $1,902,000 after acquiring an additional 14,129 shares in the last quarter. Whalen Wealth Management Inc. purchased a new position in FirstEnergy during the 4th quarter worth approximately $664,000. Finally, AdvisorNet Financial Inc raised its stake in FirstEnergy by 6,689.2% during the 4th quarter. AdvisorNet Financial Inc now owns 10,727 shares of the utilities provider's stock valued at $427,000 after purchasing an additional 10,569 shares during the period. Institutional investors own 89.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FE. Morgan Stanley reiterated an "overweight" rating on shares of FirstEnergy in a report on Wednesday. Wells Fargo & Company upped their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday. Bank of America raised FirstEnergy from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Wolfe Research downgraded shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Finally, Guggenheim boosted their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FirstEnergy presently has a consensus rating of "Hold" and a consensus target price of $45.75.

FirstEnergy Stock Performance

Shares of FE stock opened at $42.36 on Monday. The stock has a market cap of $24.43 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The stock has a 50-day moving average of $40.20 and a 200-day moving average of $40.67. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a one year low of $37.58 and a one year high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. As a group, sell-side analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This is an increase from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.20%. FirstEnergy's dividend payout ratio (DPR) is 94.68%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.