FirstEnergy Corp. (NYSE:FE) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,897 shares of the utilities provider’s stock after buying an additional 634 shares during the period. GAMMA Investing LLC’s holdings in FirstEnergy were worth $433,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Livelsberger Financial Advisory bought a new stake in shares of FirstEnergy during the 3rd quarter worth $26,000. True Wealth Design LLC increased its stake in FirstEnergy by 4,571.4% in 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 in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy during the 2nd quarter worth about $32,000. Ashton Thomas Private Wealth LLC purchased a new stake in FirstEnergy during the second quarter valued at about $38,000. Finally, Quarry LP boosted its holdings in shares of FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $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

Several equities research analysts recently commented on FE shares. Jefferies Financial Group began coverage on shares of FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. JPMorgan Chase & Co. raised their target price on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.27.

FirstEnergy Trading Up 0.0 %

FirstEnergy stock opened at $39.92 on Monday. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97. The company’s fifty day moving average price is $41.05 and its two-hundred day moving average price is $41.71. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The company has a market capitalization of $23.01 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.18 and a beta of 0.52.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

About FirstEnergy

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.