Sequoia Financial Advisors LLC Has $364,000 Stake in FirstEnergy Corp. (NYSE:FE)

Sequoia Financial Advisors LLC trimmed its position in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 23.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,646 shares of the utilities provider’s stock after selling 3,244 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in FirstEnergy were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FE. Vanguard Group Inc. increased its stake in FirstEnergy by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock valued at $3,128,322,000 after buying an additional 4,443,050 shares during the last quarter. Capital World Investors increased its stake in FirstEnergy by 45.0% in the 2nd quarter. Capital World Investors now owns 43,450,863 shares of the utilities provider’s stock valued at $1,689,370,000 after buying an additional 13,484,251 shares during the last quarter. Geode Capital Management LLC increased its stake in FirstEnergy by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 11,526,479 shares of the utilities provider’s stock valued at $460,739,000 after buying an additional 300,442 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in FirstEnergy by 3.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,575,866 shares of the utilities provider’s stock valued at $293,123,000 after buying an additional 306,503 shares during the last quarter. Finally, Morgan Stanley increased its stake in FirstEnergy by 2.4% in the 4th quarter. Morgan Stanley now owns 7,515,260 shares of the utilities provider’s stock valued at $315,190,000 after buying an additional 177,489 shares during the last quarter. 82.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FE has been the topic of several recent research reports. Morgan Stanley lowered their price target on shares of FirstEnergy from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, KeyCorp upped their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.67.

Read Our Latest Stock Report on FirstEnergy

Insider Transactions at FirstEnergy

In other news, SVP Christine Walker sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $37.58, for a total transaction of $469,750.00. Following the completion of the sale, the senior vice president now owns 36,959 shares of the company’s stock, valued at approximately $1,388,919.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by insiders.

FirstEnergy Stock Performance

NYSE FE opened at $37.31 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $21.41 billion, a P/E ratio of 20.61 and a beta of 0.49. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $41.99. The firm has a 50-day moving average price of $37.07 and a two-hundred day moving average price of $36.52.

FirstEnergy (NYSE:FEGet Free Report) last posted its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.53%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, February 6th. FirstEnergy’s dividend payout ratio is currently 90.61%.

About FirstEnergy

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FEFree Report).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.