21,461 Shares in FirstEnergy Corp. (NYSE:FE) Purchased by Balanced Wealth Group LLC

Balanced Wealth Group LLC purchased a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,461 shares of the utilities provider’s stock, valued at approximately $787,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of FirstEnergy by 31.1% in the third quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock valued at $540,996,000 after acquiring an additional 3,756,228 shares during the period. Invesco Ltd. lifted its stake in shares of FirstEnergy by 3.1% in the third quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock worth $463,950,000 after acquiring an additional 407,350 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of FirstEnergy by 3.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,575,866 shares of the utilities provider’s stock worth $293,123,000 after buying an additional 306,503 shares during the period. Hudson Bay Capital Management LP grew its holdings in FirstEnergy by 447.1% during the 3rd quarter. Hudson Bay Capital Management LP now owns 372,000 shares of the utilities provider’s stock worth $12,715,000 after acquiring an additional 304,000 shares during the period. Finally, Citigroup Inc. increased its holdings in FirstEnergy by 27.3% in the third quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock worth $34,810,000 after purchasing an additional 218,439 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FE. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Bank of America boosted 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. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Scotiabank decreased their price objective on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.80.

FirstEnergy Stock Up 0.3 %

NYSE:FE traded up $0.12 on Wednesday, hitting $39.47. 2,283,565 shares of the company’s stock traded hands, compared to its average volume of 3,325,995. The company has a market cap of $22.72 billion, a PE ratio of 22.61 and a beta of 0.48. The firm has a 50-day moving average price of $38.07 and a 200-day moving average price of $37.30. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $40.42. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed 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 of this dividend is Monday, May 6th. This represents a $1.70 annualized dividend and a dividend yield of 4.31%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is currently 97.70%.

FirstEnergy Company Profile

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.