Baker Tilly Wealth Management LLC Sells 809 Shares of FirstEnergy Corp. (NYSE:FE)

Baker Tilly Wealth Management LLC cut its stake in shares of FirstEnergy Corp. (NYSE:FE) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,646 shares of the utilities provider’s stock after selling 809 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in FirstEnergy were worth $264,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC grew its stake in FirstEnergy by 4.1% during the second quarter. Private Advisor Group LLC now owns 23,189 shares of the utilities provider’s stock worth $887,000 after buying an additional 911 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of FirstEnergy in the 2nd quarter worth approximately $596,000. Ashton Thomas Private Wealth LLC bought a new stake in FirstEnergy during the 2nd quarter worth approximately $38,000. Wedbush Securities Inc. raised its position in FirstEnergy by 5.7% in the 2nd quarter. Wedbush Securities Inc. now owns 6,062 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 327 shares during the last quarter. Finally, Choreo LLC acquired a new position in FirstEnergy in the second quarter worth $430,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analysts Set New Price Targets

FE has been the subject of a number of research reports. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Jefferies Financial Group started coverage on shares of FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 target price for the company. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. KeyCorp reduced their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Stock Performance

Shares of FE stock opened at $38.75 on Friday. The stock has a market cap of $22.33 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 2.18 and a beta of 0.52. The stock has a 50-day moving average of $40.74 and a 200-day moving average of $41.70. 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 Corp. has a one year low of $35.41 and a one year high of $44.97.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. As a group, sell-side analysts expect that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.39%. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

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.