Geneos Wealth Management Inc. Has $62,000 Stake in FirstEnergy Corp. (NYSE:FE)

Geneos Wealth Management Inc. trimmed its holdings in FirstEnergy Corp. (NYSE:FE) by 31.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,679 shares of the utilities provider’s stock after selling 762 shares during the period. Geneos Wealth Management Inc.’s holdings in FirstEnergy were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in shares of FirstEnergy by 3.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,167 shares of the utilities provider’s stock valued at $343,000 after purchasing an additional 257 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of FirstEnergy by 4.7% in the third quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 287 shares in the last quarter. Snowden Capital Advisors LLC lifted its holdings in shares of FirstEnergy by 2.2% in the first quarter. Snowden Capital Advisors LLC now owns 13,241 shares of the utilities provider’s stock valued at $530,000 after purchasing an additional 287 shares in the last quarter. United Capital Financial Advisers LLC lifted its holdings in shares of FirstEnergy by 2.3% in the second quarter. United Capital Financial Advisers LLC now owns 13,241 shares of the utilities provider’s stock valued at $515,000 after purchasing an additional 292 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of FirstEnergy by 1.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 17,826 shares of the utilities provider’s stock valued at $609,000 after purchasing an additional 306 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FE. The Goldman Sachs Group initiated coverage on FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target on the stock. KeyCorp upped their target price on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Finally, StockNews.com lowered FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, FirstEnergy has an average rating of “Hold” and an average price target of $40.38.

FirstEnergy Price Performance

NYSE:FE opened at $36.83 on Wednesday. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $41.17. The stock’s 50 day moving average price is $37.64 and its two-hundred day moving average price is $36.92. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $21.20 billion, a price-to-earnings ratio of 20.35 and a beta of 0.48.

FirstEnergy (NYSE:FE) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a $0.425 dividend. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.70 annualized dividend and a dividend yield of 4.62%. FirstEnergy’s dividend payout ratio is presently 90.61%.

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.