Atria Wealth Solutions Inc. Buys 660 Shares of FirstEnergy Corp. (NYSE:FE)

Atria Wealth Solutions Inc. boosted its stake in FirstEnergy Corp. (NYSE:FE) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,319 shares of the utilities provider’s stock after buying an additional 660 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in FirstEnergy were worth $450,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. True Wealth Design LLC grew 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 acquiring an additional 640 shares in the last quarter. WASHINGTON TRUST Co increased its position in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 586 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy during the 4th quarter worth $34,000. Quarry LP boosted its holdings in shares of FirstEnergy by 59.1% in the 3rd 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. Finally, Luken Investment Analytics LLC bought a new position in FirstEnergy during the fourth quarter valued at about $40,000. 89.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FE. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. KeyCorp cut their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Morgan Stanley lowered their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Down 10.1 %

Shares of FirstEnergy stock opened at $38.68 on Friday. The company has a 50 day simple moving average of $40.09 and a two-hundred day simple moving average of $41.77. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The firm has a market cap of $22.29 billion, a PE ratio of 24.96, a PEG ratio of 2.07 and a beta of 0.52. FirstEnergy Corp. has a 1 year low of $36.01 and a 1 year high of $44.97.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. Analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.39%. 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.