Commonwealth Financial Services LLC Has $247,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Commonwealth Financial Services LLC lessened its holdings in FirstEnergy Corp. (NYSE:FE) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,198 shares of the utilities provider’s stock after selling 279 shares during the quarter. Commonwealth Financial Services LLC’s holdings in FirstEnergy were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in FirstEnergy by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock worth $403,517,000 after acquiring an additional 457,231 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of FirstEnergy by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider’s stock valued at $153,081,000 after purchasing an additional 34,151 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of FirstEnergy by 7.9% in the 3rd 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 purchasing an additional 171,955 shares during the period. Swiss National Bank increased its stake in FirstEnergy by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,622,544 shares of the utilities provider’s stock worth $71,960,000 after purchasing an additional 5,500 shares in the last quarter. Finally, abrdn plc increased its stake in FirstEnergy by 3.4% during the 4th quarter. abrdn plc now owns 880,705 shares of the utilities provider’s stock worth $34,819,000 after purchasing an additional 28,646 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. KeyCorp dropped their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, FirstEnergy presently has an average rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Up 0.5 %

NYSE FE opened at $40.01 on Tuesday. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock has a 50 day moving average of $40.18 and a 200-day moving average of $41.84. The company has a market cap of $23.06 billion, a PE ratio of 25.81, a PEG ratio of 1.99 and a beta of 0.52.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

FirstEnergy 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.