Signaturefd LLC Has $144,000 Stock Position in FirstEnergy Corp. (NYSE:FE)

Signaturefd LLC boosted its position in FirstEnergy Corp. (NYSE:FE) by 55.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,924 shares of the utilities provider’s stock after purchasing an additional 1,406 shares during the period. Signaturefd LLC’s holdings in FirstEnergy were worth $144,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FE. FMR LLC raised its holdings in FirstEnergy by 31.1% in the 3rd quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock valued at $540,996,000 after acquiring an additional 3,756,228 shares during the period. Invesco Ltd. raised its holdings in FirstEnergy by 3.1% in the 3rd quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock valued at $463,950,000 after acquiring an additional 407,350 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of FirstEnergy by 3.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,575,866 shares of the utilities provider’s stock worth $293,123,000 after purchasing an additional 306,503 shares during the period. Hudson Bay Capital Management LP increased its holdings in shares of FirstEnergy by 447.1% during the third quarter. Hudson Bay Capital Management LP now owns 372,000 shares of the utilities provider’s stock worth $12,715,000 after purchasing an additional 304,000 shares during the period. Finally, Citigroup Inc. increased its holdings in shares of FirstEnergy by 27.3% during the third quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock worth $34,810,000 after purchasing an additional 218,439 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of NYSE:FE opened at $38.13 on Monday. The company’s 50 day simple moving average is $37.83 and its 200 day simple moving average is $37.14. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 21.91 and a beta of 0.48. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $41.15.

FirstEnergy (NYSE:FE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. FirstEnergy had a net margin of 8.22% and a return on equity of 13.21%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. As a group, research analysts predict that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.70 dividend on an annualized basis and a yield of 4.46%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio (DPR) is currently 94.25%.

Analyst Upgrades and Downgrades

FE has been the topic of several recent research reports. Scotiabank lowered their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price on the stock. Bank of America raised their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. StockNews.com cut shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Finally, KeyCorp raised their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.80.

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.