Independent Advisor Alliance Buys 2,632 Shares of FirstEnergy Corp. (NYSE:FE)

Independent Advisor Alliance lifted its stake in FirstEnergy Corp. (NYSE:FE) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,613 shares of the utilities provider’s stock after buying an additional 2,632 shares during the quarter. Independent Advisor Alliance’s holdings in FirstEnergy were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FE. Amundi lifted its holdings in FirstEnergy by 103.8% in the 4th quarter. Amundi now owns 1,843,964 shares of the utilities provider’s stock worth $73,334,000 after purchasing an additional 939,240 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of FirstEnergy during the fourth quarter valued at approximately $30,069,000. Wedge Capital Management L L P NC purchased a new stake in FirstEnergy in the fourth quarter worth $12,198,000. Allspring Global Investments Holdings LLC lifted its holdings in FirstEnergy by 2.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock valued at $371,911,000 after buying an additional 220,433 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of FirstEnergy by 7.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock valued at $104,057,000 after purchasing an additional 171,955 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Up 1.6 %

Shares of FE stock opened at $39.79 on Friday. 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 stock has a market cap of $22.94 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.07 and a beta of 0.48. The business has a fifty day simple moving average of $39.91 and a 200-day simple moving average of $41.47. FirstEnergy Corp. has a fifty-two week low of $36.81 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.53 billion. On average, analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal 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 dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Friday, February 7th. FirstEnergy’s payout ratio is currently 100.00%.

Analysts Set New Price Targets

FE has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective 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. Scotiabank cut their price target on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company decreased their target price on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp cut their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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.