TD Private Client Wealth LLC Raises Stake in FirstEnergy Corp. (NYSE:FE)

TD Private Client Wealth LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 55.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,048 shares of the utilities provider’s stock after buying an additional 6,099 shares during the quarter. TD Private Client Wealth LLC’s holdings in FirstEnergy were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FE. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy in the fourth quarter worth about $26,000. True Wealth Design LLC lifted its holdings in FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the period. Lee Danner & Bass Inc. purchased a new stake in FirstEnergy in the 4th quarter worth approximately $26,000. WASHINGTON TRUST Co grew its stake in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of FirstEnergy during the 4th quarter valued at approximately $33,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.5 %

Shares of FE opened at $39.62 on Monday. The company’s 50-day moving average price is $39.95 and its 200 day moving average price is $41.30. FirstEnergy Corp. has a 12-month low of $36.81 and a 12-month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The firm has a market cap of $22.85 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data 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). The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. On average, sell-side analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.43. This represents a $1.78 dividend on an annualized basis and a yield of 4.49%. FirstEnergy’s dividend payout ratio is 104.71%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FE shares. Wells Fargo & Company lowered their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Morgan Stanley lowered their price target on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday. Guggenheim lowered their target price on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. UBS Group upped their price target on FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

FirstEnergy Company 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.