Advisor Group Holdings Inc. trimmed its position in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 11.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,633 shares of the utilities provider’s stock after selling 20,224 shares during the period. Advisor Group Holdings Inc.’s holdings in FirstEnergy were worth $7,775,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. CENTRAL TRUST Co grew its stake in FirstEnergy by 10.7% during the first quarter. CENTRAL TRUST Co now owns 2,787 shares of the utilities provider’s stock worth $128,000 after buying an additional 270 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of FirstEnergy by 2.5% in the 4th quarter. Baird Financial Group Inc. now owns 11,199 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 271 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of FirstEnergy by 0.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,647 shares of the utilities provider’s stock valued at $1,726,000 after purchasing an additional 308 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of FirstEnergy by 17.1% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,262 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 331 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of FirstEnergy by 1.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 22,210 shares of the utilities provider’s stock valued at $1,019,000 after purchasing an additional 336 shares in the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.
FirstEnergy Stock Down 1.0 %
FirstEnergy stock opened at $38.37 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.75. FirstEnergy Corp. has a 52-week low of $35.32 and a 52-week high of $48.85. The firm has a 50 day moving average price of $38.81 and a two-hundred day moving average price of $41.84. The firm has a market cap of $21.92 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.58 and a beta of 0.44.
FirstEnergy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 5th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $1.56 annualized dividend and a yield of 4.07%. FirstEnergy’s payout ratio is 63.41%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on FE shares. Bank of America downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $52.00 to $44.00 in a research note on Monday, May 16th. StockNews.com downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho cut their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 7th. KeyCorp cut their target price on shares of FirstEnergy from $51.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Finally, Credit Suisse Group started coverage on shares of FirstEnergy in a research report on Monday, April 25th. They set an “outperform” rating and a $51.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FirstEnergy has an average rating of “Hold” and an average price target of $45.25.
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, natural gas, wind, and solar power generating facilities.
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