Huber Capital Management LLC Sells 8,606 Shares of FirstEnergy Corp. (NYSE:FE)

Huber Capital Management LLC lowered its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 33.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,500 shares of the utilities provider's stock after selling 8,606 shares during the period. Huber Capital Management LLC's holdings in FirstEnergy were worth $696,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FE. Vanguard Group Inc. raised its holdings in FirstEnergy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 65,843,901 shares of the utilities provider's stock valued at $2,619,270,000 after acquiring an additional 508,570 shares in the last quarter. Boston Partners raised its stake in shares of FirstEnergy by 73.5% in the fourth quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock valued at $656,309,000 after purchasing an additional 6,991,866 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of FirstEnergy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 12,527,440 shares of the utilities provider's stock valued at $497,009,000 after purchasing an additional 329,049 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in FirstEnergy by 2.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider's stock worth $371,911,000 after purchasing an additional 220,433 shares during the period. Finally, Franklin Resources Inc. boosted its stake in FirstEnergy by 1.0% during the third quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider's stock worth $153,081,000 after buying an additional 34,151 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

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FirstEnergy Price Performance

NYSE FE traded up $0.28 on Tuesday, hitting $38.99. 2,074,487 shares of the company were exchanged, compared to its average volume of 5,253,097. FirstEnergy Corp. has a 1-year low of $36.81 and a 1-year high of $44.97. The firm has a 50 day moving average of $39.93 and a two-hundred day moving average of $40.95. The company has a market cap of $22.48 billion, a P/E ratio of 25.15, a P/E/G 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 issued its earnings results 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 company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, equities analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 4.57%. The ex-dividend date is Wednesday, May 7th. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. FirstEnergy's dividend payout ratio is presently 104.71%.

Analyst Ratings Changes

FE has been the subject of a number of recent research reports. Wolfe Research cut shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Scotiabank dropped their price target on shares of FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating for the company in a research report on Friday, February 28th. Guggenheim increased their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company cut their target price on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $45.15.

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.