United Asset Strategies Inc. Purchases 5,936 Shares of FirstEnergy Corp. (NYSE:FE)

United Asset Strategies Inc. boosted its stake in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 17.4% in the fourth quarter, Holdings Channel reports. The firm owned 40,106 shares of the utilities provider’s stock after acquiring an additional 5,936 shares during the period. United Asset Strategies Inc.’s holdings in FirstEnergy were worth $1,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FE. Meeder Asset Management Inc. boosted its position in shares of FirstEnergy by 3.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,167 shares of the utilities provider’s stock valued at $343,000 after acquiring an additional 257 shares during the period. MGO One Seven LLC boosted its position in shares of FirstEnergy by 4.7% in the third quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 287 shares during the period. Snowden Capital Advisors LLC boosted its position in shares of FirstEnergy by 2.2% in the first quarter. Snowden Capital Advisors LLC now owns 13,241 shares of the utilities provider’s stock valued at $530,000 after acquiring an additional 287 shares during the period. United Capital Financial Advisers LLC boosted its position in shares of FirstEnergy by 2.3% in the second quarter. United Capital Financial Advisers LLC now owns 13,241 shares of the utilities provider’s stock valued at $515,000 after acquiring an additional 292 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. boosted its position in shares of FirstEnergy by 1.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 17,826 shares of the utilities provider’s stock valued at $609,000 after acquiring an additional 306 shares during the period. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Down 1.5 %

Shares of NYSE FE opened at $36.83 on Wednesday. The stock has a market cap of $21.20 billion, a PE ratio of 20.35 and a beta of 0.48. The business has a fifty day moving average of $37.64 and a two-hundred day moving average of $36.92. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.17. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48.

FirstEnergy (NYSE:FEGet Free Report) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $3.20 billion during 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 business’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. As a group, equities research analysts expect that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.62%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, May 6th. FirstEnergy’s payout ratio is currently 90.61%.

Analyst Ratings Changes

Several research firms have recently weighed in on FE. KeyCorp increased their price objective on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. StockNews.com cut FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group initiated coverage on FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.38.

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FirstEnergy Profile

(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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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