FirstEnergy Corp. (NYSE:FE) Stake Lifted by Kohmann Bosshard Financial Services LLC

Kohmann Bosshard Financial Services LLC increased its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 47,441 shares of the utilities provider’s stock after acquiring an additional 644 shares during the period. Kohmann Bosshard Financial Services LLC’s holdings in FirstEnergy were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC bought a new position in shares of FirstEnergy in the fourth quarter worth $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of FirstEnergy by 7.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after purchasing an additional 171,955 shares in the last quarter. DRW Securities LLC bought a new position in shares of FirstEnergy in the third quarter worth $1,154,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of FirstEnergy by 41.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock worth $1,902,000 after purchasing an additional 14,129 shares in the last quarter. Finally, Whalen Wealth Management Inc. bought a new position in shares of FirstEnergy in the fourth quarter worth $664,000. 89.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on FE. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Morgan Stanley cut their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. KeyCorp cut their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Scotiabank cut their price objective on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a report on Friday. Finally, Guggenheim cut their price objective on FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.33.

FirstEnergy Trading Up 0.6 %

Shares of NYSE FE opened at $38.79 on Friday. FirstEnergy Corp. has a 12 month low of $36.01 and a 12 month high of $44.97. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 2.07 and a beta of 0.52. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The business has a fifty day simple moving average of $40.07 and a 200-day simple moving average of $41.74.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $3.53 billion. Sell-side analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 7th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.38%. The ex-dividend date was Friday, February 7th. FirstEnergy’s payout ratio is 109.68%.

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.