FirstEnergy Corp. (NYSE:FE) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd decreased its position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 85.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,395 shares of the utilities provider's stock after selling 62,910 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in FirstEnergy were worth $414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FE. Resona Asset Management Co. Ltd. purchased a new stake in shares of FirstEnergy in the fourth quarter valued at about $6,668,000. Prudential PLC grew its holdings in FirstEnergy by 13.0% during the 4th quarter. Prudential PLC now owns 32,957 shares of the utilities provider's stock valued at $1,311,000 after buying an additional 3,795 shares during the last quarter. Landscape Capital Management L.L.C. increased its position in FirstEnergy by 57.6% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,286 shares of the utilities provider's stock worth $1,801,000 after buying an additional 16,547 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of FirstEnergy in the fourth quarter worth $9,789,000. Finally, World Investment Advisors acquired a new stake in shares of FirstEnergy during the fourth quarter valued at $398,000. Institutional investors and hedge funds own 89.41% of the company's stock.

Analyst Upgrades and Downgrades

FE has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Wolfe Research cut FirstEnergy from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 23rd. Scotiabank decreased their price target on shares of FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company cut their price objective on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, Guggenheim increased their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, FirstEnergy has an average rating of "Hold" and a consensus price target of $45.17.

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FirstEnergy Stock Up 0.1 %

FE stock traded up $0.06 during midday trading on Tuesday, hitting $41.18. 648,655 shares of the company's stock were exchanged, compared to its average volume of 3,433,855. The firm has a 50 day moving average price of $39.89 and a 200-day moving average price of $40.77. 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 $23.75 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data 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). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. On average, analysts anticipate that FirstEnergy Corp. will post 2.66 EPS 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 $0.445 dividend. This is an increase from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.32%. FirstEnergy's dividend payout ratio (DPR) is 104.71%.

FirstEnergy Company Profile

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.