Harbour Investments Inc. Has $462,000 Stock Position in FirstEnergy Corp. (NYSE:FE)

Harbour Investments Inc. reduced its holdings in FirstEnergy Corp. (NYSE:FE) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,610 shares of the utilities provider’s stock after selling 726 shares during the period. Harbour Investments Inc.’s holdings in FirstEnergy were worth $462,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Corient Private Wealth LLC boosted its position in shares of FirstEnergy by 10.1% during the 4th quarter. Corient Private Wealth LLC now owns 42,774 shares of the utilities provider’s stock valued at $1,702,000 after acquiring an additional 3,932 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of FirstEnergy by 17.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider’s stock valued at $211,000 after acquiring an additional 797 shares during the last quarter. Natixis Advisors LLC raised its holdings in FirstEnergy by 1.3% in the fourth quarter. Natixis Advisors LLC now owns 133,695 shares of the utilities provider’s stock worth $5,318,000 after purchasing an additional 1,754 shares during the period. Balanced Wealth Group LLC raised its stake in shares of FirstEnergy by 0.9% in the 4th quarter. Balanced Wealth Group LLC now owns 26,991 shares of the utilities provider’s stock valued at $1,074,000 after purchasing an additional 250 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in FirstEnergy by 14.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 105,519 shares of the utilities provider’s stock valued at $4,198,000 after acquiring an additional 13,549 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FE has been the subject of several recent research reports. Scotiabank reduced their price target on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research report on Friday, February 28th. 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 note on Thursday. Guggenheim reduced their price target on FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.17.

FirstEnergy Trading Up 0.6 %

NYSE FE opened at $39.80 on Friday. The company has a market cap of $22.95 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a twelve month low of $36.81 and a twelve month high of $44.97. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The business’s fifty day moving average is $39.93 and its 200 day moving average is $41.37.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, sell-side analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be given a $0.445 dividend. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Wednesday, May 7th. FirstEnergy’s dividend payout ratio is 100.00%.

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.