Proficio Capital Partners LLC Buys Shares of 90,105 FirstEnergy Corp. (NYSE:FE)

Proficio Capital Partners LLC purchased a new stake in FirstEnergy Corp. (NYSE:FE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 90,105 shares of the utilities provider’s stock, valued at approximately $3,584,000.

A number of other hedge funds also recently made changes to their positions in FE. Apollon Wealth Management LLC bought a new stake in FirstEnergy during the third quarter worth approximately $205,000. Prime Capital Investment Advisors LLC bought a new stake in shares of FirstEnergy in the 3rd quarter worth $202,000. KBC Group NV lifted its holdings in shares of FirstEnergy by 33.3% in the third quarter. KBC Group NV now owns 40,331 shares of the utilities provider’s stock valued at $1,789,000 after buying an additional 10,073 shares during the period. Metis Global Partners LLC boosted its stake in FirstEnergy by 1.7% during the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock valued at $750,000 after buying an additional 288 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in FirstEnergy by 7.5% during the third quarter. CIBC Asset Management Inc now owns 76,488 shares of the utilities provider’s stock worth $3,392,000 after acquiring an additional 5,306 shares during the period. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.0 %

Shares of FE stock opened at $39.84 on Tuesday. The stock has a 50 day moving average of $39.92 and a 200-day moving average of $41.42. The firm has a market cap of $22.97 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12 month low of $36.81 and a 12 month high of $44.97.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. On average, equities analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.27%. FirstEnergy’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

FE has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased 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 note on Friday, February 28th. Guggenheim lowered their price target on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. KeyCorp reduced their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One investment 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 presently has an average rating of “Hold” and an average target price of $45.33.

FirstEnergy 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.