FirstEnergy Corporation $FE Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. lessened its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 580,136 shares of the utilities provider’s stock after selling 13,205 shares during the period. Alps Advisors Inc. owned 0.10% of FirstEnergy worth $26,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in FirstEnergy in the 4th quarter valued at approximately $256,000. Integrated Wealth Concepts LLC bought a new position in shares of FirstEnergy in the first quarter worth $289,000. Empowered Funds LLC increased its holdings in shares of FirstEnergy by 7.0% during the first quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider’s stock valued at $453,000 after purchasing an additional 732 shares during the period. Woodline Partners LP increased its holdings in shares of FirstEnergy by 40.7% during the first quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider’s stock valued at $1,752,000 after purchasing an additional 12,531 shares during the period. Finally, Focus Partners Wealth raised its stake in shares of FirstEnergy by 6.8% during the first quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider’s stock valued at $856,000 after purchasing an additional 1,340 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.7%

NYSE FE opened at $46.68 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.64. The company’s 50 day simple moving average is $45.59 and its 200 day simple moving average is $45.11. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $48.20. The company has a market capitalization of $26.97 billion, a P/E ratio of 20.38, a PEG ratio of 2.66 and a beta of 0.64.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. FirstEnergy’s dividend payout ratio is currently 77.73%.

Analysts Set New Price Targets

FE has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of FirstEnergy from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Jefferies Financial Group upped their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstEnergy in a report on Monday, December 29th. KeyCorp lowered shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Finally, Mizuho boosted their target price on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, FirstEnergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.85.

FirstEnergy Company 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.