Elo Mutual Pension Insurance Co Invests $1.63 Million in FirstEnergy Corp. (NYSE:FE)

Elo Mutual Pension Insurance Co acquired a new stake in FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 41,049 shares of the utilities provider’s stock, valued at approximately $1,633,000.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in FirstEnergy during the 4th quarter valued at approximately $26,000. Lee Danner & Bass Inc. acquired a new position in shares of FirstEnergy in the 4th quarter valued at $26,000. True Wealth Design LLC raised its stake in FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 640 shares during the last quarter. WASHINGTON TRUST Co lifted its position in 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 acquiring an additional 586 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in FirstEnergy during the 4th quarter valued at about $33,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on FE shares. Wells Fargo & Company reduced their price objective on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Morgan Stanley decreased their price objective on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Scotiabank cut their price objective on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 28th. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp cut 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $45.00.

FirstEnergy Stock Performance

Shares of FE stock opened at $40.05 on Friday. The company has a market capitalization of $23.10 billion, a P/E ratio of 25.84, a P/E/G ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 12-month low of $36.81 and a 12-month high of $44.97. The business’s 50 day moving average is $39.89 and its two-hundred day moving average is $41.13. 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 (NYSE:FE) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business had revenue of $3.20 billion for 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%. Analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.44%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s payout ratio is currently 104.71%.

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.