Signaturefd LLC Purchases 1,406 Shares of FirstEnergy Corp. (NYSE:FE)

Signaturefd LLC increased its position in shares of FirstEnergy Corp. (NYSE:FE) by 55.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,924 shares of the utilities provider’s stock after acquiring an additional 1,406 shares during the period. Signaturefd LLC’s holdings in FirstEnergy were worth $144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FE. Czech National Bank increased its holdings in FirstEnergy by 40.0% during the 3rd quarter. Czech National Bank now owns 90,190 shares of the utilities provider’s stock worth $3,083,000 after acquiring an additional 25,769 shares during the period. My Legacy Advisors LLC increased its holdings in FirstEnergy by 10.0% during the 3rd quarter. My Legacy Advisors LLC now owns 17,674 shares of the utilities provider’s stock worth $630,000 after acquiring an additional 1,603 shares during the period. Toews Corp ADV bought a new stake in FirstEnergy during the 3rd quarter worth approximately $766,000. Xponance Inc. increased its holdings in FirstEnergy by 1.1% during the 3rd quarter. Xponance Inc. now owns 69,589 shares of the utilities provider’s stock worth $2,379,000 after acquiring an additional 759 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of FirstEnergy by 8.4% in the 3rd quarter. Raymond James & Associates now owns 499,539 shares of the utilities provider’s stock worth $17,074,000 after buying an additional 38,520 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Scotiabank decreased their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. KeyCorp increased their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Bank of America increased their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, StockNews.com lowered shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.80.

FirstEnergy Price Performance

Shares of FirstEnergy stock opened at $38.13 on Monday. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.15. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 21.91 and a beta of 0.48. The company has a fifty day moving average of $37.83 and a 200-day moving average of $37.14. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. FirstEnergy had a net margin of 8.22% and a return on equity of 13.21%. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.36 billion. Equities research analysts expect that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.70 annualized dividend and a yield of 4.46%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio is presently 94.25%.

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.