Envestnet Asset Management Inc. Grows Stock Position in FirstEnergy Corporation $FE

Envestnet Asset Management Inc. boosted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 19.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,583,324 shares of the utilities provider’s stock after acquiring an additional 256,494 shares during the quarter. Envestnet Asset Management Inc.’s holdings in FirstEnergy were worth $72,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FE. American National Bank & Trust boosted its stake in shares of 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 purchasing an additional 460 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in FirstEnergy during the 3rd quarter valued at $27,000. TruNorth Capital Management LLC boosted 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 buying an additional 405 shares during the period. State of Wyoming bought a new stake in FirstEnergy in the 2nd quarter worth $25,000. Finally, Caldwell Trust Co bought a new stake in FirstEnergy in the 2nd quarter worth $35,000. 89.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho upped their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of FirstEnergy in a research report on Wednesday, January 21st. Wells Fargo & Company cut their price objective on FirstEnergy from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Wolfe Research raised FirstEnergy from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 27th. Finally, UBS Group dropped their price target on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, FirstEnergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.85.

FirstEnergy Stock Down 0.7%

Shares of NYSE:FE opened at $46.68 on Monday. The firm has a market capitalization of $26.97 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75. The stock has a 50 day moving average price of $45.59 and a 200-day moving average price of $45.14. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20.

FirstEnergy Announces Dividend

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

FirstEnergy 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.