Stifel Financial Corp Purchases 47,514 Shares of FirstEnergy Corp. (NYSE:FE)

Stifel Financial Corp grew its position in FirstEnergy Corp. (NYSE:FEFree Report) by 30.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,030 shares of the utilities provider’s stock after acquiring an additional 47,514 shares during the quarter. Stifel Financial Corp’s holdings in FirstEnergy were worth $7,480,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FE. Allworth Financial LP raised its holdings in shares of FirstEnergy by 9.3% in the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock worth $137,000 after buying an additional 318 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of FirstEnergy by 1.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock worth $977,000 after buying an additional 339 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in shares of FirstEnergy by 0.5% in the 4th quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock worth $2,641,000 after buying an additional 341 shares in the last quarter. Twelve Points Wealth Management LLC raised its holdings in shares of FirstEnergy by 5.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock worth $278,000 after buying an additional 361 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in shares of FirstEnergy by 2.2% in the 3rd quarter. CWA Asset Management Group LLC now owns 16,706 shares of the utilities provider’s stock worth $571,000 after buying an additional 363 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Down 0.9 %

Shares of FirstEnergy stock opened at $39.10 on Friday. The business’s 50 day simple moving average is $38.86 and its 200 day simple moving average is $37.85. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $40.65. The firm has a market cap of $22.50 billion, a PE ratio of 22.47, a P/E/G ratio of 2.50 and a beta of 0.50. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65.

FirstEnergy (NYSE:FEGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. On average, analysts predict that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date was Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 97.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FE. Scotiabank dropped their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Mizuho raised their price target on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Bank of America raised their price target on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group assumed coverage on FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.27.

View Our Latest Research Report on FirstEnergy

About FirstEnergy

(Free Report)

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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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