FirstEnergy Corp. (NYSE:FE) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its holdings in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 33.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,548 shares of the utilities provider’s stock after buying an additional 28,544 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in FirstEnergy were worth $4,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FE. Park Avenue Securities LLC raised its holdings in FirstEnergy by 79.9% during the third quarter. Park Avenue Securities LLC now owns 12,820 shares of the utilities provider’s stock worth $474,000 after purchasing an additional 5,692 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of FirstEnergy in the fourth quarter valued at $1,202,000. Gilbert & Cook Inc. bought a new position in FirstEnergy during the third quarter valued at about $313,000. Gyroscope Capital Management Group LLC grew its holdings in FirstEnergy by 13.4% during the fourth quarter. Gyroscope Capital Management Group LLC now owns 214,262 shares of the utilities provider’s stock worth $8,986,000 after acquiring an additional 25,259 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in FirstEnergy by 2.4% in the third quarter. Daiwa Securities Group Inc. now owns 36,080 shares of the utilities provider’s stock worth $1,335,000 after acquiring an additional 858 shares in the last quarter. 81.80% of the stock is owned by institutional investors.

FirstEnergy Trading Down 0.6 %

Shares of NYSE FE opened at $37.76 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 2.06. FirstEnergy Corp. has a one year low of $35.32 and a one year high of $43.69. The business has a 50-day moving average price of $39.81 and a two-hundred day moving average price of $40.26. The firm has a market capitalization of $21.63 billion, a PE ratio of 53.18, a PEG ratio of 2.38 and a beta of 0.44.

FirstEnergy (NYSE:FE – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.04 billion. FirstEnergy had a return on equity of 12.60% and a net margin of 3.23%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, analysts predict that FirstEnergy Corp. will post 2.5 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Thursday, May 4th. FirstEnergy’s dividend payout ratio (DPR) is presently 219.72%.

Analyst Ratings Changes

Several research firms have recently weighed in on FE. Mizuho reduced their price objective on shares of FirstEnergy from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, March 28th. StockNews.com began coverage on FirstEnergy in a report on Thursday. They issued a “hold” rating on the stock. Guggenheim raised FirstEnergy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $46.00 in a research note on Monday, January 23rd. JPMorgan Chase & Co. cut their target price on FirstEnergy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, March 10th. Finally, Bank of America upped their target price on FirstEnergy from $38.00 to $39.00 and gave the company an “underperform” rating in a report on Friday, April 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and an average price target of $43.00.

FirstEnergy Company Profile

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FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate or Other.