FirstEnergy Corp. (NYSE:FE) Holdings Increased by Independent Advisor Alliance

Independent Advisor Alliance raised its holdings in FirstEnergy Corp. (NYSE:FE) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,613 shares of the utilities provider’s stock after acquiring an additional 2,632 shares during the quarter. Independent Advisor Alliance’s holdings in FirstEnergy were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FE. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy in the fourth quarter valued at $26,000. True Wealth Design LLC lifted its position in FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 640 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after buying an additional 586 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in FirstEnergy in the 4th quarter worth $33,000. Finally, Cedar Mountain Advisors LLC acquired a new position in FirstEnergy in the 4th quarter valued at approximately $34,000. 89.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company dropped their target price on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. KeyCorp lowered their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Scotiabank cut 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. Finally, Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $45.33.

FirstEnergy Stock Up 1.6 %

FE stock opened at $39.79 on Friday. The firm has a market capitalization of $22.94 billion, a PE ratio of 25.67, a P/E/G ratio of 2.07 and a beta of 0.48. The stock’s 50 day moving average is $39.91 and its 200-day moving average is $41.47. 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.

FirstEnergy (NYSE:FE) last released its 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 return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. Sell-side analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 7th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.27%. FirstEnergy’s dividend payout ratio 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.