NewEdge Advisors LLC Has $3.39 Million Position in FirstEnergy Corp. (NYSE:FE)

NewEdge Advisors LLC raised its position in FirstEnergy Corp. (NYSE:FE - Free Report) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 85,146 shares of the utilities provider's stock after buying an additional 7,981 shares during the period. NewEdge Advisors LLC's holdings in FirstEnergy were worth $3,387,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in FE. Covestor Ltd boosted its position in shares of FirstEnergy by 69.3% in the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after purchasing an additional 255 shares during the last quarter. Kestra Investment Management LLC acquired a new position in FirstEnergy in the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. bought a new position in FirstEnergy during the fourth quarter worth about $26,000. WASHINGTON TRUST Co boosted its holdings 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 buying an additional 586 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in shares of FirstEnergy during the 4th quarter worth about $31,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday. UBS Group lifted their target price on FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Morgan Stanley restated an "overweight" rating on shares of FirstEnergy in a report on Wednesday. Wolfe Research lowered FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Finally, Guggenheim raised their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $45.58.

FirstEnergy Stock Up 0.2 %

Shares of NYSE:FE traded up $0.09 during trading on Friday, hitting $42.37. 3,169,477 shares of the company were exchanged, compared to its average volume of 3,557,058. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 27.36, 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 Corp. has a fifty-two week low of $37.58 and a fifty-two week high of $44.97. The firm has a fifty day moving average price of $40.16 and a two-hundred day moving average price of $40.70.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. As a group, research analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.20%. This is a boost from FirstEnergy's previous quarterly dividend of $0.43. FirstEnergy's dividend payout ratio (DPR) is presently 104.71%.

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.