Entropy Technologies LP grew its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 217.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 54,457 shares of the utilities provider's stock after buying an additional 37,277 shares during the period. Entropy Technologies LP's holdings in FirstEnergy were worth $2,166,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in FE. Balanced Wealth Group LLC grew its position in FirstEnergy by 0.9% during the third quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider's stock worth $1,186,000 after buying an additional 241 shares during the period. Metis Global Partners LLC grew its position in FirstEnergy by 1.7% during 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 period. Quarry LP grew its position in shares of FirstEnergy by 59.1% in 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 last quarter. V Square Quantitative Management LLC grew its position in shares of FirstEnergy by 3.5% in the third quarter. V Square Quantitative Management LLC now owns 9,514 shares of the utilities provider's stock valued at $422,000 after purchasing an additional 324 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of FirstEnergy by 6.7% in the fourth quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider's stock valued at $205,000 after purchasing an additional 324 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.
FirstEnergy Trading Up 0.7 %
NYSE:FE traded up $0.28 during trading hours on Thursday, reaching $40.28. 2,794,933 shares of the company were exchanged, compared to its average volume of 3,612,125. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a 52-week low of $36.01 and a 52-week high of $44.97. The stock has a 50 day simple moving average of $39.87 and a 200 day simple moving average of $41.83.
FirstEnergy Dividend Announcement
The firm also recently announced 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. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, February 7th. FirstEnergy's dividend payout ratio is presently 109.68%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on FE shares. KeyCorp lowered their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Seaport Res Ptn downgraded shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Morgan Stanley reduced their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Finally, Scotiabank raised shares of FirstEnergy from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.27.
Check Out Our Latest Analysis on FirstEnergy
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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