RKL Wealth Management LLC Buys New Shares in FirstEnergy Corp. (NYSE:FE)

RKL Wealth Management LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,188 shares of the utilities provider's stock, valued at approximately $405,000.

Several other large investors also recently made changes to their positions in FE. Machina Capital S.A.S. bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $1,407,000. Edgestream Partners L.P. grew its stake in FirstEnergy by 419.1% in the 4th quarter. Edgestream Partners L.P. now owns 45,206 shares of the utilities provider's stock valued at $1,798,000 after buying an additional 36,498 shares during the last quarter. Callan Family Office LLC bought a new position in FirstEnergy in the 4th quarter valued at about $211,000. Inceptionr LLC boosted its holdings in shares of FirstEnergy by 145.9% during the fourth quarter. Inceptionr LLC now owns 50,424 shares of the utilities provider's stock worth $2,006,000 after acquiring an additional 29,921 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of FirstEnergy during the fourth quarter worth approximately $30,069,000. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Trading Down 2.3 %

NYSE:FE traded down $0.90 during mid-day trading on Wednesday, hitting $38.26. 7,298,910 shares of the company's stock were exchanged, compared to its average volume of 5,253,857. 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 $36.81 and a fifty-two week high of $44.97. The company has a 50 day simple moving average of $39.96 and a 200-day simple moving average of $41.54. The firm has a market capitalization of $22.06 billion, a P/E ratio of 24.68, a PEG ratio of 2.07 and a beta of 0.48.

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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 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). The business had revenue of $3.20 billion during 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, research analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 7th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Friday, February 7th. FirstEnergy's dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of research firms recently commented on FE. Wolfe Research lowered shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Guggenheim decreased their target price on shares of FirstEnergy from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Morgan Stanley cut their target price on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company decreased their price target on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating on the stock 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 on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, FirstEnergy 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.