Bryn Mawr Capital Management LLC Trims Holdings in FirstEnergy Corp. (NYSE:FE)

Bryn Mawr Capital Management LLC lessened its position in shares of FirstEnergy Corp. (NYSE:FE) by 4.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 198,024 shares of the utilities provider’s stock after selling 8,269 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in FirstEnergy were worth $7,877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in shares of FirstEnergy during the fourth quarter valued at $26,000. True Wealth Design LLC increased its stake in FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after buying an additional 640 shares during the period. WASHINGTON TRUST Co raised 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 worth $31,000 after buying an additional 586 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of FirstEnergy during the fourth quarter valued at approximately $34,000. Finally, Quarry LP raised its holdings in FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

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

FirstEnergy Price Performance

FE opened at $43.51 on Wednesday. The firm has a market capitalization of $25.07 billion, a P/E ratio of 28.07, a PEG ratio of 2.07 and a beta of 0.52. The stock has a fifty day moving average of $40.02 and a 200-day moving average of $41.78. 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 $36.01 and a 12-month high of $44.97.

FirstEnergy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 3.91%. FirstEnergy’s payout ratio is presently 109.68%.

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.