FirstEnergy Corp. (NYSE:FE) Shares Purchased by US Bancorp DE

US Bancorp DE raised its holdings in FirstEnergy Corp. (NYSE:FE) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,256 shares of the utilities provider’s stock after purchasing an additional 1,311 shares during the quarter. US Bancorp DE’s holdings in FirstEnergy were worth $1,601,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Wedge Capital Management L L P NC purchased a new stake in shares of FirstEnergy in the fourth quarter valued at about $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of FirstEnergy by 7.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock valued at $104,057,000 after acquiring an additional 171,955 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of FirstEnergy in the third quarter valued at about $1,154,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in FirstEnergy by 41.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock worth $1,902,000 after buying an additional 14,129 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new stake in FirstEnergy during the fourth quarter worth about $664,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Price Performance

Shares of FE stock opened at $38.54 on Friday. The company has a market capitalization of $22.22 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The firm has a fifty day simple moving average of $39.98 and a 200-day simple moving average of $41.61. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a twelve month low of $36.81 and a twelve month high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during 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%. Equities research analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were paid a dividend of $0.425 per share. The ex-dividend date was Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.41%. FirstEnergy’s dividend payout ratio (DPR) is 100.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Guggenheim reduced their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Morgan Stanley cut their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Wells Fargo & Company cut their price objective on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, KeyCorp cut their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $45.33.

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.