Proficio Capital Partners LLC Purchases New Position in FirstEnergy Corp. (NYSE:FE)

Proficio Capital Partners LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,105 shares of the utilities provider’s stock, valued at approximately $3,584,000.

Several other hedge funds also recently modified their holdings of FE. Wedge Capital Management L L P NC bought a new position in shares of FirstEnergy in the fourth quarter valued at about $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of FirstEnergy by 7.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after purchasing an additional 171,955 shares in the last quarter. DRW Securities LLC acquired a new position in shares of FirstEnergy during the third quarter worth approximately $1,154,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of FirstEnergy by 41.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock valued at $1,902,000 after purchasing an additional 14,129 shares during the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $664,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FE shares. KeyCorp decreased their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. 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 report on Friday, February 28th. Scotiabank dropped their price objective on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a report on Friday, February 28th. Guggenheim cut their target price on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Morgan Stanley lowered their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $45.33.

FirstEnergy Trading Up 0.0 %

FE stock opened at $39.84 on Tuesday. The stock has a market cap of $22.97 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a fifty day moving average price of $39.92 and a two-hundred day moving average price of $41.42. FirstEnergy Corp. has a one year low of $36.81 and a one 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) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. Equities analysts anticipate that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 100.00%.

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.