Bartlett & CO. Wealth Management LLC Acquires 525 Shares of FirstEnergy Corp. (NYSE:FE)

Bartlett & CO. Wealth Management LLC raised its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 46.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,646 shares of the utilities provider’s stock after purchasing an additional 525 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in FirstEnergy were worth $65,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Balanced Wealth Group LLC increased its stake in shares of FirstEnergy by 0.9% during the third quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider’s stock valued at $1,186,000 after purchasing an additional 241 shares in the last quarter. Metis Global Partners LLC increased its position in shares of FirstEnergy by 1.7% during the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock valued at $750,000 after acquiring an additional 288 shares in the last quarter. Quarry LP increased its position in shares of FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 320 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of FirstEnergy by 3.5% during the third quarter. V Square Quantitative Management LLC now owns 9,514 shares of the utilities provider’s stock valued at $422,000 after acquiring an additional 324 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of FirstEnergy by 6.7% during the fourth quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider’s stock valued at $205,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

FE has been the subject of several analyst reports. Barclays raised 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. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Morgan Stanley dropped their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.27.

FirstEnergy Trading Up 0.4 %

Shares of FirstEnergy stock opened at $39.18 on Friday. The company’s fifty day simple moving average is $40.40 and its 200-day simple moving average is $41.77. The stock has a market capitalization of $22.58 billion, a PE ratio of 25.27, a P/E/G ratio of 1.97 and a beta of 0.52. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

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 business had revenue of $3.73 billion for 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%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, equities analysts anticipate that FirstEnergy Corp. will post 2.67 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio is presently 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.