AE Wealth Management LLC Increases Stake in FirstEnergy Corporation $FE

AE Wealth Management LLC lifted its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 374,409 shares of the utilities provider’s stock after purchasing an additional 27,603 shares during the period. AE Wealth Management LLC owned about 0.06% of FirstEnergy worth $17,155,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of FirstEnergy during the fourth quarter valued at about $256,000. Integrated Wealth Concepts LLC purchased a new stake in FirstEnergy during the 1st quarter valued at about $289,000. Empowered Funds LLC grew its position in FirstEnergy by 7.0% during the 1st quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider’s stock worth $453,000 after acquiring an additional 732 shares during the last quarter. Woodline Partners LP increased its stake in FirstEnergy by 40.7% in the 1st quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider’s stock worth $1,752,000 after purchasing an additional 12,531 shares during the period. Finally, Focus Partners Wealth increased its stake in FirstEnergy by 6.8% in the 1st quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider’s stock worth $856,000 after purchasing an additional 1,340 shares during the period. 89.41% of the stock is owned by institutional investors.

FirstEnergy Trading Down 0.3%

NYSE:FE opened at $47.27 on Friday. The company has a 50-day moving average price of $45.64 and a 200-day moving average price of $44.82. The stock has a market cap of $27.30 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.70 and a beta of 0.64. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $48.20.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wolfe Research raised FirstEnergy from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Tuesday. KeyCorp cut shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Jefferies Financial Group boosted their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. UBS Group lowered their price objective on shares of FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Finally, Scotiabank raised their target price on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.85.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.