FirstEnergy Corp. (NYSE:FE) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its holdings in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 16.8% in the third quarter, Holdings Channel reports. The firm owned 10,609 shares of the utilities provider’s stock after selling 2,136 shares during the quarter. Avantax Advisory Services Inc.’s holdings in FirstEnergy were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of FE. Virtu Financial LLC purchased a new position in FirstEnergy during the 2nd quarter worth $357,000. Tokio Marine Asset Management Co. Ltd. raised its position in FirstEnergy by 7.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,231 shares of the utilities provider’s stock worth $418,000 after buying an additional 866 shares during the last quarter. Zions Bancorporation N.A. raised its position in FirstEnergy by 9.5% during the 2nd quarter. Zions Bancorporation N.A. now owns 9,896 shares of the utilities provider’s stock worth $385,000 after buying an additional 861 shares during the last quarter. Meridian Wealth Management LLC raised its position in FirstEnergy by 122.1% during the 3rd quarter. Meridian Wealth Management LLC now owns 168,032 shares of the utilities provider’s stock worth $5,743,000 after buying an additional 92,375 shares during the last quarter. Finally, abrdn plc raised its position in FirstEnergy by 6.6% during the 3rd quarter. abrdn plc now owns 798,892 shares of the utilities provider’s stock worth $27,306,000 after buying an additional 49,662 shares during the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.

FirstEnergy Price Performance

Shares of NYSE FE opened at $37.77 on Tuesday. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 20.87 and a beta of 0.49. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $41.99. The company’s 50-day moving average price is $37.08 and its 200 day moving average price is $36.46. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 2.10.

FirstEnergy (NYSE:FEGet Free Report) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. As a group, research analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 7th will be paid a $0.41 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $1.64 dividend on an annualized basis and a yield of 4.34%. FirstEnergy’s payout ratio is 90.61%.

Insiders Place Their Bets

In other FirstEnergy news, SVP Christine Walker sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $37.58, for a total transaction of $469,750.00. Following the sale, the senior vice president now directly owns 36,959 shares of the company’s stock, valued at approximately $1,388,919.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FE shares. KeyCorp upped their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Morgan Stanley cut their price objective on shares of FirstEnergy from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Finally, StockNews.com downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and a consensus price target of $39.67.

View Our Latest Analysis on FirstEnergy

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.

See Also

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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