Klein Pavlis & Peasley Financial Inc. Sells 800 Shares of FirstEnergy Corp. (NYSE:FE)

Klein Pavlis & Peasley Financial Inc. lessened its position in shares of FirstEnergy Corp. (NYSE:FE) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,300 shares of the utilities provider’s stock after selling 800 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in FirstEnergy were worth $1,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FE. Livelsberger Financial Advisory purchased a new stake in FirstEnergy during the 3rd quarter worth about $26,000. True Wealth Design LLC increased its position in shares of FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after buying an additional 640 shares during the period. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy during the fourth quarter valued at about $34,000. Quarry LP lifted its holdings in shares of FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after buying an additional 320 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of FirstEnergy by 48.4% in the third quarter. UMB Bank n.a. now owns 997 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 325 shares during the period. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

FE has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley lowered their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, KeyCorp cut their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Stock Up 0.7 %

Shares of FE opened at $40.23 on Thursday. The firm has a market cap of $23.18 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.99 and a beta of 0.52. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The stock has a 50 day simple moving average of $40.05 and a two-hundred day simple moving average of $41.84. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

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.