Everhart Financial Group Inc. Lowers Holdings in FirstEnergy Corp. (NYSE:FE)

Everhart Financial Group Inc. decreased its holdings in FirstEnergy Corp. (NYSE:FE) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,929 shares of the utilities provider’s stock after selling 769 shares during the quarter. Everhart Financial Group Inc.’s holdings in FirstEnergy were worth $315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FE. Livelsberger Financial Advisory acquired a new position in shares of FirstEnergy in the 3rd quarter valued at about $26,000. True Wealth Design LLC lifted its stake in shares of FirstEnergy by 4,571.4% in the 3rd 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 in the last quarter. WASHINGTON TRUST Co lifted its stake in shares of FirstEnergy by 293.0% in 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 in the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at about $34,000. Finally, Quarry LP lifted its stake in shares of FirstEnergy by 59.1% in the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of NYSE FE opened at $40.04 on Monday. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $23.08 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 2.01 and a beta of 0.52. The business has a 50 day simple moving average of $39.83 and a 200-day simple moving average of $41.81.

FirstEnergy Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.25%. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

Analyst Ratings Changes

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

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.