Corient Private Wealth LLC Acquires 3,932 Shares of FirstEnergy Corp. (NYSE:FE)

Corient Private Wealth LLC boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,774 shares of the utilities provider’s stock after buying an additional 3,932 shares during the quarter. Corient Private Wealth LLC’s holdings in FirstEnergy were worth $1,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $26,000. True Wealth Design LLC raised its stake in FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after buying an additional 640 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of FirstEnergy in the fourth quarter worth $33,000. Finally, Cedar Mountain Advisors LLC purchased a new stake in FirstEnergy during the fourth quarter valued at $34,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Down 1.3 %

Shares of FE opened at $39.03 on Tuesday. The business’s 50 day moving average is $39.94 and its 200 day moving average is $41.26. 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 12-month low of $36.81 and a 12-month high of $44.97. The company has a market capitalization of $22.51 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

FirstEnergy (NYSE:FE) last released its quarterly earnings data 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). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. Research analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.445 per share. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.56%. FirstEnergy’s dividend payout ratio (DPR) is presently 104.71%.

Analyst Ratings Changes

Several research analysts have issued reports on FE shares. KeyCorp dropped their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley cut their target price on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Scotiabank decreased their price target on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 28th. UBS Group boosted their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $45.00.

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.