FirstEnergy Corp. (NYSE:FE) Holdings Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 217,153 shares of the utilities provider's stock after selling 18,234 shares during the period. Pictet Asset Management Holding SA's holdings in FirstEnergy were worth $8,638,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy during the 4th quarter worth about $26,000. Lee Danner & Bass Inc. acquired a new position in FirstEnergy during the fourth quarter valued at approximately $26,000. WASHINGTON TRUST Co grew 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 buying an additional 586 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of FirstEnergy in the fourth quarter worth $33,000. Finally, Cedar Mountain Advisors LLC purchased a new position in shares of FirstEnergy in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Down 1.6 %

Shares of FirstEnergy stock traded down $0.62 during trading on Monday, reaching $38.75. The company had a trading volume of 7,166,323 shares, compared to its average volume of 3,359,690. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. FirstEnergy Corp. has a fifty-two week low of $36.81 and a fifty-two week high of $44.97. The firm's fifty day moving average is $39.93 and its 200-day moving average is $40.95. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56.

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FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 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 firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, analysts anticipate that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be paid a dividend of $0.445 per share. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 annualized dividend and a yield of 4.59%. FirstEnergy's payout ratio is presently 104.71%.

Analysts Set New Price Targets

A number of analysts recently weighed in on FE shares. Morgan Stanley decreased their price target on shares of FirstEnergy from $52.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. Wolfe Research lowered FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Guggenheim boosted their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group increased their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Scotiabank reduced their target price on shares of FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average 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.