FirstEnergy Corp. (NYSE:FE) Shares Purchased by Spirit of America Management Corp NY

Spirit of America Management Corp NY lifted its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 56.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,450 shares of the utilities provider's stock after purchasing an additional 7,750 shares during the quarter. Spirit of America Management Corp NY's holdings in FirstEnergy were worth $853,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FE. AQR Capital Management LLC boosted its stake in shares of FirstEnergy by 37.4% in the 2nd quarter. AQR Capital Management LLC now owns 48,493 shares of the utilities provider's stock valued at $1,856,000 after purchasing an additional 13,195 shares in the last quarter. Creative Planning raised its position in shares of FirstEnergy by 1.0% in the 2nd quarter. Creative Planning now owns 36,488 shares of the utilities provider's stock worth $1,396,000 after purchasing an additional 372 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in FirstEnergy in the 2nd quarter worth approximately $832,000. Park Avenue Securities LLC grew its stake in shares of FirstEnergy by 1.8% in the third quarter. Park Avenue Securities LLC now owns 31,731 shares of the utilities provider's stock worth $1,407,000 after acquiring an additional 566 shares during the period. Finally, Czech National Bank boosted its position in FirstEnergy by 5.8% in the third quarter. Czech National Bank now owns 104,416 shares of the utilities provider's stock worth $4,631,000 after purchasing an additional 5,713 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Trading Up 0.1 %

NYSE FE traded up $0.04 on Friday, reaching $40.17. 4,045,275 shares of the company were exchanged, compared to its average volume of 3,835,380. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97. The stock has a market capitalization of $23.15 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.01 and a beta of 0.52. The business's fifty day moving average price is $39.95 and its 200 day moving average price is $41.83. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a $0.425 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.23%. FirstEnergy's dividend payout ratio (DPR) is currently 109.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FE shares. Morgan Stanley reduced their target price on shares of FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Seaport Res Ptn lowered FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Jefferies Financial Group assumed coverage on FirstEnergy in a research note on Monday, October 14th. They issued a "hold" rating and a $46.00 price objective for the company. Scotiabank upgraded FirstEnergy from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, Wolfe Research downgraded shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $46.27.

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.