845 Shares in FirstEnergy Corp. (NYSE:FE) Acquired by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 845 shares of the utilities provider’s stock, valued at approximately $34,000.

Several other large investors have also recently made changes to their positions in the business. Wedge Capital Management L L P NC purchased a new stake in FirstEnergy during the 4th quarter valued at about $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 last quarter. DRW Securities LLC purchased a new stake in shares of FirstEnergy during the third quarter valued at approximately $1,154,000. Public Sector Pension Investment Board grew its holdings in shares of FirstEnergy by 52.7% in the second quarter. Public Sector Pension Investment Board now owns 87,811 shares of the utilities provider’s stock worth $3,361,000 after purchasing an additional 30,309 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of FirstEnergy by 16.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock worth $8,267,000 after buying an additional 26,874 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays increased their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One research 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 presently has a consensus rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Price Performance

Shares of FE stock opened at $39.18 on Friday. The stock has a market cap of $22.58 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.97 and a beta of 0.52. The business’s fifty day moving average is $40.35 and its 200 day moving average is $41.77. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve 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.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. Research analysts expect that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

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.