Jones Financial Companies Lllp Purchases 8,192 Shares of FirstEnergy Corp. (NYSE:FE)

Jones Financial Companies Lllp increased its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 123.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,821 shares of the utilities provider's stock after purchasing an additional 8,192 shares during the quarter. Jones Financial Companies Lllp's holdings in FirstEnergy were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FE. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy during the 4th quarter worth about $26,000. True Wealth Design LLC increased its stake in FirstEnergy by 4,571.4% during 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 last quarter. WASHINGTON TRUST Co raised its stake in FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock worth $31,000 after acquiring an additional 586 shares during the period. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy in the 4th quarter worth approximately $34,000. Finally, Quarry LP boosted its holdings in shares of FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 320 shares during the period. Hedge funds and other institutional investors own 89.41% of the company's stock.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of research reports. Scotiabank decreased their price target on FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating for the company in a research note on Friday, February 28th. KeyCorp dropped their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Wolfe Research downgraded shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Finally, Guggenheim cut their price target on FirstEnergy from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, FirstEnergy presently has a consensus rating of "Hold" and an average price target of $45.33.

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FirstEnergy Stock Down 0.6 %

NYSE:FE traded down $0.25 during midday trading on Tuesday, reaching $39.12. The company had a trading volume of 2,793,128 shares, compared to its average volume of 3,030,937. 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's fifty day simple moving average is $39.97 and its 200-day simple moving average is $41.57. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 12-month low of $36.81 and a 12-month high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $3.53 billion. On average, sell-side analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 7th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Friday, February 7th. FirstEnergy's payout ratio is currently 100.00%.

FirstEnergy 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.