NEOS Investment Management LLC Makes New $268,000 Investment in FirstEnergy Corp. (NYSE:FE)

NEOS Investment Management LLC bought a new stake in shares of FirstEnergy Corp. (NYSE:FEFree Report) in the fourth quarter, Holdings Channel reports. The firm bought 7,316 shares of the utilities provider’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. KBC Group NV increased its holdings in FirstEnergy by 9.4% in the fourth quarter. KBC Group NV now owns 30,258 shares of the utilities provider’s stock worth $1,109,000 after buying an additional 2,603 shares during the last quarter. First Pacific Advisors LP increased its stake in shares of FirstEnergy by 1.3% during the 4th quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock worth $127,623,000 after purchasing an additional 45,350 shares during the last quarter. TFO Wealth Partners LLC raised its holdings in shares of FirstEnergy by 291,540.0% during the 4th quarter. TFO Wealth Partners LLC now owns 14,582 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 14,577 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in FirstEnergy by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 241,658 shares of the utilities provider’s stock worth $8,859,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Stifel Financial Corp increased its position in FirstEnergy by 30.4% during the fourth quarter. Stifel Financial Corp now owns 204,030 shares of the utilities provider’s stock worth $7,480,000 after buying an additional 47,514 shares during the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

NYSE FE opened at $39.10 on Friday. The company’s fifty day moving average is $38.86 and its two-hundred day moving average is $37.85. The firm has a market capitalization of $22.50 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.50 and a beta of 0.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $40.65.

FirstEnergy (NYSE:FEGet Free Report) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. Equities research analysts forecast that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 97.70%.

Analyst Ratings Changes

A number of analysts have weighed in on FE shares. The Goldman Sachs Group initiated coverage on FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target for the company. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Morgan Stanley increased their price target on FirstEnergy from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Mizuho boosted their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Bank of America raised their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.27.

Read Our Latest Research Report on FirstEnergy

FirstEnergy 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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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