Angeles Investment Advisors LLC Buys 1,093 Shares of FirstEnergy Corp. (NYSE:FE)

Angeles Investment Advisors LLC boosted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,756 shares of the utilities provider’s stock after buying an additional 1,093 shares during the quarter. Angeles Investment Advisors LLC’s holdings in FirstEnergy were worth $578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Beacon Pointe Advisors LLC raised its holdings in shares of FirstEnergy by 1.0% in the 4th quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock valued at $1,358,000 after purchasing an additional 376 shares in the last quarter. Duality Advisers LP bought a new stake in shares of FirstEnergy in the 4th quarter valued at about $1,644,000. Citigroup Inc. raised its holdings in shares of FirstEnergy by 27.3% in the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock valued at $34,810,000 after purchasing an additional 218,439 shares in the last quarter. Lumbard & Kellner LLC bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $2,418,000. Finally, First Pacific Advisors LP raised its stake in shares of FirstEnergy by 1.3% during the 4th quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock worth $127,623,000 after acquiring an additional 45,350 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Down 0.7 %

Shares of FE traded down $0.28 during mid-day trading on Friday, reaching $38.82. The stock had a trading volume of 1,691,772 shares, compared to its average volume of 3,121,334. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $40.65. The business’s fifty day moving average is $38.86 and its 200 day moving average is $37.85. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 2.50 and a beta of 0.50.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) 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 12.45%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.36 billion. On average, sell-side 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 was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.38%. The ex-dividend date was Monday, May 6th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio (DPR) is 97.70%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of FirstEnergy from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price on the stock. Bank of America boosted their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. Scotiabank dropped their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Mizuho boosted their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.27.

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.