44,842 Shares in FirstEnergy Corp. (NYSE:FE) Acquired by Duality Advisers LP

Duality Advisers LP purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 44,842 shares of the utilities provider’s stock, valued at approximately $1,644,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MGO One Seven LLC grew its holdings in shares of FirstEnergy by 4.7% during the third quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after buying an additional 287 shares during the last quarter. Allworth Financial LP grew its stake in FirstEnergy by 9.3% during the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 318 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of FirstEnergy by 1.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after purchasing an additional 339 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of FirstEnergy by 0.5% in the fourth quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock worth $2,641,000 after purchasing an additional 341 shares during the last quarter. Finally, Twelve Points Wealth Management LLC lifted its holdings in shares of FirstEnergy by 5.0% during the fourth quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock worth $278,000 after purchasing an additional 361 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.1 %

FE stock opened at $38.21 on Tuesday. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $41.17. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48. The firm’s fifty day moving average is $37.74 and its 200 day moving average is $37.05. The firm has a market cap of $21.99 billion, a PE ratio of 21.11 and a beta of 0.48.

FirstEnergy (NYSE:FE) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts forecast that FirstEnergy Corp. will post 2.67 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Monday, May 6th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is presently 90.61%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FE. KeyCorp increased their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective on the stock. StockNews.com downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Finally, Scotiabank cut their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.33.

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.