AE Wealth Management LLC Acquires 27,603 Shares of FirstEnergy Corporation $FE

AE Wealth Management LLC boosted its holdings in FirstEnergy Corporation (NYSE:FE) by 8.0% during the third quarter, Holdings Channel.com reports. The firm owned 374,409 shares of the utilities provider’s stock after acquiring an additional 27,603 shares during the quarter. AE Wealth Management LLC’s holdings in FirstEnergy were worth $17,155,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. American National Bank & Trust raised its stake in FirstEnergy by 380.2% during the third quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock valued at $27,000 after buying an additional 460 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in FirstEnergy in the 3rd quarter worth about $27,000. TruNorth Capital Management LLC grew its position in FirstEnergy by 187.5% during the 3rd quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 405 shares during the last quarter. State of Wyoming purchased a new stake in FirstEnergy during the 2nd quarter valued at about $25,000. Finally, Capital Advisors Ltd. LLC increased its position in shares of FirstEnergy by 186.4% during the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 440 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Down 0.3%

FE opened at $47.27 on Friday. The firm’s 50 day simple moving average is $45.64 and its two-hundred day simple moving average is $44.82. The company has a market capitalization of $27.30 billion, a PE ratio of 20.64, a PEG ratio of 2.70 and a beta of 0.64. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $48.20. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a dividend of $0.445 per share. The ex-dividend date is Friday, February 6th. This represents a $1.78 annualized dividend and a yield of 3.8%. FirstEnergy’s payout ratio is 77.73%.

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of FirstEnergy from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. KeyCorp downgraded shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Barclays decreased their target price on shares of FirstEnergy from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Citigroup initiated coverage on FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.85.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.