Andra AP fonden Decreases Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Andra AP fonden decreased its position in FirstEnergy Corp. (NYSE:FE) by 67.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,700 shares of the utilities provider’s stock after selling 49,900 shares during the quarter. Andra AP fonden’s holdings in FirstEnergy were worth $943,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC increased its position in shares of FirstEnergy by 1.7% in the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock valued at $750,000 after acquiring an additional 288 shares during the period. Quarry LP increased its position in shares of FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 320 shares during the period. Brooklyn Investment Group increased its position in shares of FirstEnergy by 6.7% in the fourth quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider’s stock valued at $205,000 after acquiring an additional 324 shares during the period. Venturi Wealth Management LLC increased its position in shares of FirstEnergy by 33.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,326 shares of the utilities provider’s stock valued at $53,000 after buying an additional 329 shares during the period. Finally, Essex Financial Services Inc. increased its position in shares of FirstEnergy by 6.2% during the fourth quarter. Essex Financial Services Inc. now owns 5,819 shares of the utilities provider’s stock valued at $231,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.7 %

NYSE:FE opened at $38.54 on Monday. The company’s 50-day simple moving average is $39.98 and its 200 day simple moving average is $41.60. The firm has a market capitalization of $22.22 billion, a P/E ratio of 24.86, a PEG ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a one year low of $36.81 and a one year high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. As a group, analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were issued a dividend of $0.425 per share. The ex-dividend date was Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.41%. FirstEnergy’s payout ratio is 100.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. KeyCorp reduced their price target on shares of 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 cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank reduced their price target on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.33.

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.