HBK Sorce Advisory LLC Has $253,000 Stock Holdings in FirstEnergy Corp. (NYSE:FE)

HBK Sorce Advisory LLC raised its stake in FirstEnergy Corp. (NYSE:FE) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,912 shares of the utilities provider’s stock after acquiring an additional 590 shares during the period. HBK Sorce Advisory LLC’s holdings in FirstEnergy were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of FirstEnergy during the 3rd quarter worth $25,000. Clear Street Markets LLC raised its holdings in shares of FirstEnergy by 549.0% during the 4th quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after buying an additional 549 shares in the last quarter. Sugarloaf Wealth Management LLC acquired a new position in shares of FirstEnergy during the 4th quarter worth $29,000. Certified Advisory Corp acquired a new position in shares of FirstEnergy during the 1st quarter worth $29,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of FirstEnergy during the 2nd quarter worth $31,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Trading Down 0.6 %

NYSE FE opened at $37.62 on Friday. The business’s 50-day moving average price is $37.59 and its two-hundred day moving average price is $36.85. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $41.99. The firm has a market capitalization of $21.65 billion, a PE ratio of 20.78 and a beta of 0.48. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue was up .0% on a year-over-year basis. On average, analysts expect that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, May 6th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is 90.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FE shares. KeyCorp boosted their price target on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. The Goldman Sachs Group started coverage on FirstEnergy in a report on Wednesday. They set a “buy” rating and a $45.00 price target for the company. Finally, StockNews.com cut 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, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.22.

About FirstEnergy

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.