Portside Wealth Group LLC Reduces Stock Position in FirstEnergy Corp. (NYSE:FE)

Portside Wealth Group LLC lessened its holdings in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 35,134 shares of the utilities provider’s stock after selling 1,681 shares during the quarter. Portside Wealth Group LLC’s holdings in FirstEnergy were worth $1,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FE. SG Americas Securities LLC raised its holdings in FirstEnergy by 317.4% in the 4th quarter. SG Americas Securities LLC now owns 38,862 shares of the utilities provider’s stock worth $1,425,000 after purchasing an additional 29,552 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. bought a new position in FirstEnergy in the fourth quarter worth about $1,180,000. Twelve Points Wealth Management LLC lifted its holdings in FirstEnergy by 5.0% in the fourth quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock worth $278,000 after buying an additional 361 shares during the period. My Legacy Advisors LLC boosted its position in FirstEnergy by 2.5% during the 4th quarter. My Legacy Advisors LLC now owns 18,115 shares of the utilities provider’s stock valued at $689,000 after acquiring an additional 441 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in shares of FirstEnergy by 0.3% during the 4th quarter. IFM Investors Pty Ltd now owns 173,331 shares of the utilities provider’s stock worth $6,354,000 after acquiring an additional 505 shares during the period. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $38.21 on Monday. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $41.99. The firm’s 50-day moving average is $37.23 and its 200 day moving average is $36.66. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 21.11 and a beta of 0.48. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38.

FirstEnergy (NYSE:FEGet Free Report) last issued its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $3.20 billion for 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 13.52%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.425 dividend. The ex-dividend date is Monday, May 6th. This represents a $1.70 annualized dividend and a dividend yield of 4.45%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is currently 90.61%.

Analyst Ratings Changes

FE has been the subject of a number of research analyst reports. KeyCorp raised their target price on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. StockNews.com downgraded FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and an average target price of $39.67.

Check Out Our Latest Stock Analysis on FirstEnergy

FirstEnergy Company Profile

(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 Articles

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.