Beacon Pointe Advisors LLC Grows Stake in FirstEnergy Corp. (NYSE:FE)

Beacon Pointe Advisors LLC grew its holdings in FirstEnergy Corp. (NYSE:FEFree Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 37,050 shares of the utilities provider’s stock after acquiring an additional 376 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in FirstEnergy were worth $1,358,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FE. Sugarloaf Wealth Management LLC purchased a new position in shares of FirstEnergy in the 4th quarter valued at about $29,000. Blue Trust Inc. grew its stake in FirstEnergy by 327.3% during the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $35,000 after buying an additional 792 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in FirstEnergy during the 4th quarter worth approximately $40,000. Authentikos Wealth Advisory LLC purchased a new position in FirstEnergy during the 3rd quarter worth approximately $45,000. Finally, NBC Securities Inc. purchased a new position in FirstEnergy during the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FE shares. Bank of America raised their price target on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Scotiabank dropped their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group began coverage on FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price objective for the company. Finally, StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.80.

Read Our Latest Stock Analysis on FE

FirstEnergy Stock Up 0.0 %

FE opened at $40.06 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. The business has a 50 day simple moving average of $38.53 and a 200-day simple moving average of $37.57. The stock has a market capitalization of $23.06 billion, a P/E ratio of 23.02 and a beta of 0.48. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $40.65.

FirstEnergy (NYSE:FEGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. On average, equities analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.425 per share. The ex-dividend date is Monday, May 6th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a yield of 4.24%. FirstEnergy’s payout ratio is currently 97.70%.

FirstEnergy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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