Machina Capital S.A.S. Acquires Shares of 35,370 FirstEnergy Corp. (NYSE:FE)

Machina Capital S.A.S. bought a new stake in FirstEnergy Corp. (NYSE:FE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 35,370 shares of the utilities provider's stock, valued at approximately $1,407,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of FirstEnergy by 25.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,131 shares of the utilities provider's stock worth $183,000 after purchasing an additional 836 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in FirstEnergy during the third quarter worth approximately $754,000. QRG Capital Management Inc. raised its stake in FirstEnergy by 11.8% in the third quarter. QRG Capital Management Inc. now owns 12,728 shares of the utilities provider's stock valued at $564,000 after buying an additional 1,346 shares during the period. Principal Financial Group Inc. lifted its position in shares of FirstEnergy by 5.2% in the third quarter. Principal Financial Group Inc. now owns 617,768 shares of the utilities provider's stock valued at $27,398,000 after buying an additional 30,769 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its stake in shares of FirstEnergy by 94.4% during the 3rd quarter. Tyler Stone Wealth Management now owns 22,817 shares of the utilities provider's stock worth $1,012,000 after acquiring an additional 11,081 shares during the period. Institutional investors own 89.41% of the company's stock.

Wall Street Analyst Weigh In

FE has been the subject of several research reports. Scotiabank cut their price target on FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating for the company in a report on Friday, February 28th. Wolfe Research cut shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. KeyCorp decreased their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Morgan Stanley cut their price objective 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. Finally, Wells Fargo & Company decreased their target price 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and a consensus price target of $45.33.

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FirstEnergy Trading Down 2.3 %

Shares of FE stock traded down $0.90 during mid-day trading on Wednesday, hitting $38.26. The company's stock had a trading volume of 7,298,910 shares, compared to its average volume of 5,253,857. FirstEnergy Corp. has a 52 week low of $36.81 and a 52 week high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The company's fifty day simple moving average is $39.96 and its 200-day simple moving average is $41.54. The company has a market cap of $22.06 billion, a PE ratio of 24.68, a P/E/G ratio of 2.07 and a beta of 0.48.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly 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). The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. As a group, equities research analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 7th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Friday, February 7th. FirstEnergy's dividend payout ratio (DPR) is currently 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.