Stablepoint Partners LLC Grows Stock Position in FirstEnergy Corp. (NYSE:FE)

Stablepoint Partners LLC grew its position in shares of FirstEnergy Corp. (NYSE:FE) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,661 shares of the utilities provider’s stock after purchasing an additional 1,901 shares during the period. Stablepoint Partners LLC’s holdings in FirstEnergy were worth $4,760,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in shares of FirstEnergy by 1,417.3% in the third quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after acquiring an additional 694,313 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in FirstEnergy by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after purchasing an additional 457,231 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in FirstEnergy during the 2nd quarter worth approximately $14,933,000. Wedge Capital Management L L P NC acquired a new position in shares of FirstEnergy in the 4th quarter valued at approximately $12,198,000. Finally, International Assets Investment Management LLC boosted its stake in shares of FirstEnergy by 4,445.0% during the 3rd quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after buying an additional 214,606 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Price Performance

Shares of NYSE FE opened at $39.18 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The firm 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 business’s fifty day moving average price is $40.35 and its two-hundred day moving average price is $41.77.

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

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.34%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

Analyst Ratings Changes

A number of analysts recently issued reports on FE shares. JPMorgan Chase & Co. lifted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group assumed coverage on shares of FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 target price for the company. KeyCorp reduced their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Scotiabank raised 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 report on Thursday, December 12th. Finally, Barclays increased their target price on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.27.

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.