First Horizon Advisors Inc. Boosts Stake in FirstEnergy Corp. (NYSE:FE)

First Horizon Advisors Inc. raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,749 shares of the utilities provider’s stock after buying an additional 1,161 shares during the quarter. First Horizon Advisors Inc.’s holdings in FirstEnergy were worth $3,729,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ING Groep NV purchased a new position in shares of FirstEnergy in the 4th quarter worth $1,719,000. Ieq Capital LLC lifted its holdings in shares of FirstEnergy by 7.8% in the 4th quarter. Ieq Capital LLC now owns 11,946 shares of the utilities provider’s stock valued at $475,000 after acquiring an additional 862 shares during the last quarter. Prossimo Advisors LLC grew its position in FirstEnergy by 6.4% in the fourth quarter. Prossimo Advisors LLC now owns 10,616 shares of the utilities provider’s stock worth $422,000 after acquiring an additional 636 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in FirstEnergy during the fourth quarter worth approximately $443,000. Finally, Kestra Investment Management LLC purchased a new stake in FirstEnergy during the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

FirstEnergy stock opened at $42.34 on Monday. 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 company has a market capitalization of $24.40 billion, a PE ratio of 27.32, a P/E/G ratio of 2.07 and a beta of 0.52. The company has a 50 day moving average price of $39.89 and a 200-day moving average price of $41.77. FirstEnergy Corp. has a fifty-two week low of $36.01 and a fifty-two week high of $44.97.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio is 109.68%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FE. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. KeyCorp reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Morgan Stanley dropped their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.27.

About FirstEnergy

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.