EntryPoint Capital LLC Takes $403,000 Position in FirstEnergy Corp. (NYSE:FE)

EntryPoint Capital LLC bought a new position in shares of FirstEnergy Corp. (NYSE:FE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,124 shares of the utilities provider’s stock, valued at approximately $403,000.

Several other large investors have also recently bought and sold shares of the stock. Kestra Investment Management LLC bought a new position in shares of FirstEnergy during the 4th quarter worth about $26,000. Lee Danner & Bass Inc. acquired a new stake in FirstEnergy during the fourth quarter worth about $26,000. True Wealth Design LLC increased its stake in FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the period. WASHINGTON TRUST Co raised its holdings in FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 586 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of FirstEnergy in the 4th quarter worth approximately $33,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Price Performance

FirstEnergy stock opened at $37.95 on Wednesday. FirstEnergy Corp. has a 52 week low of $36.81 and a 52 week high of $44.97. The firm has a market cap of $21.89 billion, a P/E ratio of 24.48, a P/E/G ratio of 2.07 and a beta of 0.48. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The business’s fifty day moving average is $39.92 and its two-hundred day moving average is $41.22.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. Equities research analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 4.69%. The ex-dividend date is Wednesday, May 7th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s payout ratio is 104.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FE shares. Morgan Stanley lowered their price objective on FirstEnergy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Wells Fargo & Company lowered their price target on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. UBS Group increased their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Guggenheim decreased their price objective on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.00.

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.