FirstEnergy Corp. (NYSE:FE) Shares Purchased by KBC Group NV

KBC Group NV boosted its holdings in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 9.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 30,258 shares of the utilities provider’s stock after purchasing an additional 2,603 shares during the period. KBC Group NV’s holdings in FirstEnergy were worth $1,109,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sachetta LLC acquired a new stake in shares of FirstEnergy during the fourth quarter worth $25,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of FirstEnergy in the fourth quarter valued at about $29,000. Blue Trust Inc. boosted its holdings in shares of FirstEnergy by 327.3% in the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 792 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of FirstEnergy during the fourth quarter worth about $40,000. Finally, Bear Mountain Capital Inc. purchased a new position in FirstEnergy during the fourth quarter worth about $53,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of analyst reports. Mizuho increased their target price on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. The Goldman Sachs Group began coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price on the stock. Morgan Stanley upped their price target on shares of FirstEnergy from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Finally, Scotiabank reduced their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.27.

Check Out Our Latest Stock Analysis on FirstEnergy

FirstEnergy Stock Performance

NYSE:FE opened at $38.82 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $22.34 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 2.48 and a beta of 0.50. The firm has a 50-day moving average price of $38.87 and a two-hundred day moving average price of $37.86. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $40.65.

FirstEnergy (NYSE:FEGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. As a group, research analysts expect that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a dividend of $0.425 per share. The ex-dividend date was Monday, May 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.38%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio (DPR) is presently 97.70%.

FirstEnergy Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FEFree Report).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.