FirstEnergy Corp. (NYSE:FE) Shares Acquired by Spirit of America Management Corp NY

Spirit of America Management Corp NY lifted its position in shares of FirstEnergy Corp. (NYSE:FE) by 56.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,450 shares of the utilities provider’s stock after purchasing an additional 7,750 shares during the period. Spirit of America Management Corp NY’s holdings in FirstEnergy were worth $853,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FE. Livelsberger Financial Advisory bought a new stake in shares of FirstEnergy in the third quarter worth $26,000. True Wealth Design LLC increased its stake in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy in the fourth quarter worth $34,000. Quarry LP increased its stake in shares of FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after buying an additional 320 shares during the last quarter. Finally, Luken Investment Analytics LLC bought a new stake in shares of FirstEnergy in the fourth quarter worth $40,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FE. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. KeyCorp lowered their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Jefferies Financial Group started coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. Finally, Morgan Stanley lowered their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.27.

FirstEnergy Stock Performance

FE stock opened at $40.01 on Wednesday. The company has a market capitalization of $23.06 billion, a P/E ratio of 25.81, a PEG ratio of 1.99 and a beta of 0.52. The company has a 50-day simple moving average of $40.14 and a 200 day simple moving average of $41.85. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, February 7th. FirstEnergy’s payout ratio is currently 109.68%.

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.