FirstEnergy Corp. (NYSE:FE) Shares Bought by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 38.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,241 shares of the utilities provider’s stock after purchasing an additional 3,965 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in FirstEnergy were worth $566,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Livelsberger Financial Advisory purchased a new position in FirstEnergy in the 3rd quarter worth approximately $26,000. True Wealth Design LLC increased its holdings in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 640 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in FirstEnergy during the second quarter worth approximately $32,000. Cedar Mountain Advisors LLC purchased a new position in FirstEnergy during the fourth quarter worth approximately $34,000. Finally, Quarry LP boosted its stake in FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after buying an additional 320 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays lifted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. KeyCorp lowered their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Morgan Stanley reduced their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Trading Down 1.7 %

Shares of FirstEnergy stock opened at $40.20 on Wednesday. The company’s fifty day moving average is $40.34 and its two-hundred day moving average is $41.83. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The company has a market capitalization of $23.17 billion, a P/E ratio of 25.93, a PEG ratio of 1.97 and a beta of 0.52.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Analysts forecast that FirstEnergy Corp. will post 2.67 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, February 7th. FirstEnergy’s payout ratio is currently 109.68%.

About FirstEnergy

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.