FirstEnergy Corp. (NYSE:FE) Position Decreased by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC cut its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,870 shares of the utilities provider's stock after selling 11,760 shares during the period. Jackson Hole Capital Partners LLC's holdings in FirstEnergy were worth $3,137,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new position in shares of FirstEnergy in the 4th quarter worth $26,000. True Wealth Design LLC boosted its holdings in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 640 shares during the period. WASHINGTON TRUST Co grew its holdings in FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock worth $31,000 after acquiring an additional 586 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of FirstEnergy in the 4th quarter valued at $33,000. Finally, Cedar Mountain Advisors LLC bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $34,000. 89.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FE. Scotiabank dropped their price objective 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 lowered their price target on shares of FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. KeyCorp dropped their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday, December 4th. Morgan Stanley cut their price target 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. Finally, Wolfe Research lowered shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, FirstEnergy presently has an average rating of "Hold" and an average target price of $45.33.

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FirstEnergy Stock Performance

Shares of NYSE FE traded up $0.94 during trading hours on Thursday, reaching $39.15. The stock had a trading volume of 4,972,758 shares, compared to its average volume of 3,072,232. The firm has a 50-day moving average of $39.93 and a 200-day moving average of $41.52. FirstEnergy Corp. has a fifty-two week low of $36.81 and a fifty-two week high of $44.97. The firm has a market cap of $22.58 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 2.07 and a beta of 0.48. 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 released 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 net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts predict that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.34%. The ex-dividend date was Friday, February 7th. FirstEnergy's payout ratio is 100.00%.

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.