WT Wealth Management Takes Position in FirstEnergy Corp. (NYSE:FE)

WT Wealth Management purchased a new position in shares of FirstEnergy Corp. (NYSE:FE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,102 shares of the utilities provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of FirstEnergy during the 4th quarter worth approximately $26,000. True Wealth Design LLC raised its position in FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 640 shares in the last quarter. WASHINGTON TRUST Co raised its position in FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 586 shares in the last quarter. Cedar Mountain Advisors LLC bought a new stake in FirstEnergy during the 4th quarter valued at $34,000. Finally, Quarry LP raised its position in FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 320 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Stock Performance

Shares of FE stock opened at $42.99 on Thursday. The company has a market capitalization of $24.78 billion, a P/E ratio of 27.74, a P/E/G ratio of 2.07 and a beta of 0.52. The business’s 50 day moving average is $40.10 and its two-hundred day moving average is $41.79. FirstEnergy Corp. has a 12-month low of $36.01 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.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. Analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a $0.425 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.95%. FirstEnergy’s payout ratio is presently 109.68%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FE shares. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. KeyCorp reduced their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Morgan Stanley reduced 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. Finally, Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $45.00 to $50.00 in a 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’s stock. According to MarketBeat.com, FirstEnergy has an average rating of “Hold” and an average price target 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.