FirstEnergy Corp. (NYSE:FE) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of FirstEnergy Corp. (NYSE:FEGet Rating) by 4.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 137,744 shares of the utilities provider’s stock after selling 5,899 shares during the quarter. Amalgamated Bank’s holdings in FirstEnergy were worth $6,317,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FE. Equitable Holdings Inc. raised its stake in shares of FirstEnergy by 17.1% during the fourth quarter. Equitable Holdings Inc. now owns 7,077 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 1,034 shares during the period. Allianz Asset Management GmbH raised its stake in shares of FirstEnergy by 100.9% during the fourth quarter. Allianz Asset Management GmbH now owns 409,499 shares of the utilities provider’s stock valued at $17,031,000 after purchasing an additional 205,636 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of FirstEnergy by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,885,158 shares of the utilities provider’s stock valued at $119,994,000 after purchasing an additional 83,142 shares during the period. Geode Capital Management LLC raised its stake in shares of FirstEnergy by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 9,790,945 shares of the utilities provider’s stock valued at $406,102,000 after purchasing an additional 287,488 shares during the period. Finally, MKT Advisors LLC purchased a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. StockNews.com lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Wells Fargo & Company dropped their price target on shares of FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. Morgan Stanley lifted their price target on shares of FirstEnergy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Finally, KeyCorp dropped their price target on shares of FirstEnergy from $51.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, FirstEnergy has a consensus rating of “Hold” and an average price target of $45.75.

FirstEnergy Stock Performance

FE opened at $41.20 on Monday. The business’s 50 day moving average is $39.71 and its 200-day moving average is $41.66. The stock has a market cap of $23.54 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.69 and a beta of 0.44. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. FirstEnergy Corp. has a twelve month low of $35.32 and a twelve month high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last announced its earnings results on Tuesday, July 26th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. FirstEnergy had a return on equity of 15.13% and a net margin of 11.78%. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts predict that FirstEnergy Corp. will post 2.41 earnings per share for the current year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, August 4th. This represents a $1.56 annualized dividend and a yield of 3.79%. FirstEnergy’s payout ratio is 63.41%.

FirstEnergy Company Profile

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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, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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