PFG Investments LLC reduced its holdings in FirstEnergy Corp. (NYSE:FE – Free Report) by 10.9% during the 4th quarter, Holdings Channel reports. The fund owned 18,148 shares of the utilities provider’s stock after selling 2,220 shares during the quarter. PFG Investments LLC’s holdings in FirstEnergy were worth $722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in shares of FirstEnergy by 37.4% in the second quarter. AQR Capital Management LLC now owns 48,493 shares of the utilities provider’s stock valued at $1,856,000 after acquiring an additional 13,195 shares in the last quarter. Creative Planning lifted its position in FirstEnergy by 1.0% in the second quarter. Creative Planning now owns 36,488 shares of the utilities provider’s stock worth $1,396,000 after purchasing an additional 372 shares during the period. NewEdge Advisors LLC boosted its stake in FirstEnergy by 40.0% during the 2nd quarter. NewEdge Advisors LLC now owns 61,278 shares of the utilities provider’s stock valued at $2,345,000 after purchasing an additional 17,497 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of FirstEnergy by 1.6% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 29,029 shares of the utilities provider’s stock worth $1,111,000 after buying an additional 454 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of FirstEnergy in the second quarter valued at $32,000. Institutional investors own 89.41% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on FE. JPMorgan Chase & Co. lifted their target price on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Jefferies Financial Group began coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 target price on the stock. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley decreased 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 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’s stock. Based on data from MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and a consensus price target of $46.27.
FirstEnergy Stock Performance
FE stock opened at $39.72 on Thursday. The stock has a market cap of $22.89 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.97 and a beta of 0.52. 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 firm has a 50 day simple moving average of $40.31 and a 200 day simple moving average of $41.83. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97.
FirstEnergy (NYSE:FE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.
FirstEnergy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s payout ratio 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.
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