Jackson Hole Capital Partners LLC Has $3.14 Million Stake in FirstEnergy Corp. (NYSE:FE)

Jackson Hole Capital Partners LLC decreased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,870 shares of the utilities provider’s stock after selling 11,760 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in FirstEnergy were worth $3,137,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FE. Farther Finance Advisors LLC lifted its position in shares of FirstEnergy by 25.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,131 shares of the utilities provider’s stock worth $183,000 after acquiring an additional 836 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of FirstEnergy in the 3rd quarter worth approximately $754,000. QRG Capital Management Inc. lifted its position in shares of FirstEnergy by 11.8% in the 3rd quarter. QRG Capital Management Inc. now owns 12,728 shares of the utilities provider’s stock worth $564,000 after acquiring an additional 1,346 shares during the period. Principal Financial Group Inc. lifted its position in shares of FirstEnergy by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 617,768 shares of the utilities provider’s stock worth $27,398,000 after acquiring an additional 30,769 shares during the period. Finally, Tyler Stone Wealth Management raised its holdings in shares of FirstEnergy by 94.4% in the 3rd quarter. Tyler Stone Wealth Management now owns 22,817 shares of the utilities provider’s stock worth $1,012,000 after buying an additional 11,081 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.7 %

NYSE:FE opened at $38.54 on Friday. FirstEnergy Corp. has a 12-month low of $36.81 and a 12-month 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. The firm has a market capitalization of $22.22 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.07 and a beta of 0.48. The stock’s fifty day simple moving average is $39.98 and its 200-day simple moving average is $41.61.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. Equities research analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were given a $0.425 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.41%. FirstEnergy’s dividend payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FE. Scotiabank dropped their target price on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a report on Friday, February 28th. Guggenheim dropped their target price on FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th. KeyCorp dropped their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Morgan Stanley dropped their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and an average price target of $45.33.

FirstEnergy 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.