Wells Fargo & Company MN Sells 3,762,668 Shares of FirstEnergy Corp. (NYSE:FE)

Wells Fargo & Company MN decreased its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 83.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 725,652 shares of the utilities provider's stock after selling 3,762,668 shares during the quarter. Wells Fargo & Company MN owned 0.13% of FirstEnergy worth $28,866,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new stake in shares of FirstEnergy during the fourth quarter worth $26,000. Lee Danner & Bass Inc. purchased a new position in FirstEnergy in the 4th quarter worth about $26,000. WASHINGTON TRUST Co increased its stake in FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock worth $31,000 after purchasing an additional 586 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in FirstEnergy during the 4th quarter worth about $33,000. Finally, Cedar Mountain Advisors LLC purchased a new stake in FirstEnergy during the fourth quarter valued at about $34,000. Institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Down 0.4 %

NYSE FE traded down $0.15 during trading on Wednesday, reaching $40.89. The company's stock had a trading volume of 1,622,170 shares, compared to its average volume of 3,438,054. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $23.58 billion, a PE ratio of 26.38, a PEG ratio of 2.07 and a beta of 0.41. FirstEnergy Corp. has a 1-year low of $36.81 and a 1-year high of $44.97. The business has a 50-day moving average price of $39.90 and a 200-day moving average price of $40.77.

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FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. On average, research analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be given a dividend of $0.445 per share. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.35%. This is a boost from FirstEnergy's previous quarterly dividend of $0.43. FirstEnergy's dividend payout ratio is presently 104.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group raised their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company dropped their price target on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Guggenheim raised their price objective on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Finally, Scotiabank dropped their target price on FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, FirstEnergy has a consensus rating of "Hold" and a consensus price target of $45.17.

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.