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Mariner LLC increased its holdings in shares of FirstEnergy Corp. (NYSE:FE – Free Report) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,039 shares of the utilities provider’s stock after purchasing an additional 13,196 shares during the quarter. Mariner LLC’s holdings in FirstEnergy were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of FirstEnergy by 69.3% in the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock worth $25,000 after buying an additional 255 shares during the last quarter. Kestra Investment Management LLC purchased a new position in FirstEnergy in the fourth quarter worth about $26,000. Lee Danner & Bass Inc. bought a new stake in shares of FirstEnergy during the 4th quarter valued at about $26,000. WASHINGTON TRUST Co increased its position in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 586 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in shares of FirstEnergy in the fourth quarter worth approximately $31,000. 89.41% of the stock is owned by hedge funds and other institutional investors.
FirstEnergy Stock Performance
FE opened at $41.78 on Tuesday. 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 stock has a market capitalization of $24.09 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.07 and a beta of 0.41. The company has a fifty day moving average of $40.02 and a 200 day moving average of $40.68. FirstEnergy Corp. has a fifty-two week low of $37.58 and a fifty-two week high of $44.97.
FirstEnergy (NYSE:FE – Get Free Report) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during 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%. As a group, sell-side analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.
FirstEnergy Increases Dividend
The firm also recently declared 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 4.26%. 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 currently 104.71%.
Analyst Upgrades and Downgrades
FE has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Guggenheim lifted their target price on FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, April 7th. UBS Group upped their price target on FirstEnergy from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, Scotiabank reduced their target price on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and a consensus price target of $45.17.
Check Out Our Latest Stock Report on FirstEnergy
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.
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