Sugarloaf Wealth Management LLC Makes New Investment in FirstEnergy Corp. (NYSE:FE)

Sugarloaf Wealth Management LLC acquired a new stake in FirstEnergy Corp. (NYSE:FEFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 786 shares of the utilities provider’s stock, valued at approximately $29,000.

A number of other institutional investors have also recently modified their holdings of FE. Clear Street Markets LLC increased its stake in FirstEnergy by 549.0% in the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 549 shares during the last quarter. Certified Advisory Corp bought a new position in shares of FirstEnergy in the 1st quarter valued at $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in FirstEnergy in the 3rd quarter worth about $25,000. Cornerstone Planning Group LLC bought a new position in FirstEnergy in the 2nd quarter valued at approximately $31,000. Finally, KB Financial Partners LLC acquired a new stake in FirstEnergy during the 1st quarter worth approximately $34,000. 82.34% of the stock is currently owned by institutional investors.

FirstEnergy Stock Down 0.2 %

Shares of NYSE:FE opened at $37.95 on Monday. The business’s 50-day moving average is $37.24 and its 200-day moving average is $36.56. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $41.99. The company has a market capitalization of $21.80 billion, a price-to-earnings ratio of 20.97 and a beta of 0.48. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38.

FirstEnergy (NYSE:FEGet Free Report) last posted its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. Equities research analysts predict that FirstEnergy Corp. will post 2.67 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.64 annualized dividend and a dividend yield of 4.32%. FirstEnergy’s dividend payout ratio is currently 90.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FE shares. StockNews.com downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. KeyCorp raised their price objective on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.67.

Get Our Latest Research Report on FE

About FirstEnergy

(Free Report)

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.

Read More

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FEFree Report).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.