Proficio Capital Partners LLC Buys Shares of 90,105 FirstEnergy Corp. (NYSE:FE)

Proficio Capital Partners LLC bought a new stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 90,105 shares of the utilities provider's stock, valued at approximately $3,584,000.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy during the fourth quarter valued at $26,000. True Wealth Design LLC lifted its holdings in shares of 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 lifted its holdings in shares of FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 586 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of FirstEnergy during the fourth quarter valued at $34,000. Finally, Quarry LP lifted 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 purchasing an additional 320 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 0.7 %

Shares of NYSE FE traded up $0.27 during mid-day trading on Friday, reaching $38.54. 8,999,424 shares of the company traded hands, compared to its average volume of 3,013,073. 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 stock has a market cap of $22.22 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company's fifty day moving average is $39.98 and its two-hundred day moving average is $41.62. FirstEnergy Corp. has a fifty-two week low of $36.81 and a fifty-two week high of $44.97.

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FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.03). The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Friday, February 7th. FirstEnergy's dividend payout ratio is 100.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley reduced their target price on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. KeyCorp reduced their price objective on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Wells Fargo & Company reduced their price objective on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Guggenheim reduced their price objective on FirstEnergy from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Scotiabank reduced their price objective 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.33.

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.