FirstEnergy Corp. (NYSE:FE) Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC cut its stake in shares of FirstEnergy Corp. (NYSE:FE) by 20.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,193 shares of the utilities provider’s stock after selling 4,018 shares during the period. Diversify Wealth Management LLC’s holdings in FirstEnergy were worth $588,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in shares of FirstEnergy by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after buying an additional 457,231 shares during the last quarter. Franklin Resources Inc. raised its position in shares of FirstEnergy by 1.0% in the third quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider’s stock valued at $153,081,000 after buying an additional 34,151 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of FirstEnergy by 7.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock valued at $104,057,000 after buying an additional 171,955 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of FirstEnergy by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,896,140 shares of the utilities provider’s stock valued at $72,570,000 after buying an additional 104,253 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of FirstEnergy by 0.3% in the third quarter. Swiss National Bank now owns 1,622,544 shares of the utilities provider’s stock valued at $71,960,000 after buying an additional 5,500 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Trading Up 1.1 %

NYSE FE opened at $40.31 on Wednesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.99 and a beta of 0.52. The firm has a 50 day simple moving average of $40.50 and a 200-day simple moving average of $41.79. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Equities research analysts anticipate that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FE shares. Barclays upped their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective for the company. KeyCorp dropped their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Finally, Morgan Stanley dropped their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.27.

FirstEnergy Company 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.