R Squared Ltd Takes Position in FirstEnergy Corp. (NYSE:FE)

R Squared Ltd purchased a new stake in FirstEnergy Corp. (NYSE:FE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 28,694 shares of the utilities provider's stock, valued at approximately $1,141,000. FirstEnergy accounts for approximately 1.1% of R Squared Ltd's holdings, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in FirstEnergy in the third quarter worth approximately $26,000. True Wealth Design LLC grew its holdings in shares of FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock worth $29,000 after purchasing an additional 640 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of FirstEnergy during the 2nd quarter worth about $32,000. Cedar Mountain Advisors LLC purchased a new stake in FirstEnergy in the 4th quarter valued at about $34,000. Finally, Quarry LP raised its holdings in FirstEnergy by 59.1% in the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider's stock valued at $38,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FE. Scotiabank upgraded shares of FirstEnergy from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. Seaport Res Ptn downgraded shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. KeyCorp decreased their price target on 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 dropped their price objective on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on FirstEnergy in a research note on Monday, October 14th. They set a "hold" rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and a consensus target price of $46.27.

FirstEnergy Stock Down 1.1 %

Shares of FirstEnergy stock traded down $0.46 on Wednesday, reaching $39.73. 2,894,779 shares of the company were exchanged, compared to its average volume of 3,177,968. The stock's 50 day moving average price is $40.31 and its 200-day moving average price is $41.83. The company has a market cap of $22.90 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.97 and a beta of 0.52. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, equities analysts forecast that FirstEnergy Corp. will post 2.67 EPS for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Friday, February 7th. FirstEnergy's dividend payout ratio is presently 109.68%.

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.