RKL Wealth Management LLC Invests $405,000 in FirstEnergy Corp. (NYSE:FE)

RKL Wealth Management LLC acquired a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,188 shares of the utilities provider’s stock, valued at approximately $405,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of FirstEnergy by 25.4% during the third quarter. Farther Finance Advisors LLC now owns 4,131 shares of the utilities provider’s stock valued at $183,000 after purchasing an additional 836 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in FirstEnergy during the 3rd quarter valued at approximately $754,000. QRG Capital Management Inc. grew its stake in FirstEnergy by 11.8% during the 3rd quarter. QRG Capital Management Inc. now owns 12,728 shares of the utilities provider’s stock worth $564,000 after buying an additional 1,346 shares during the last quarter. Principal Financial Group Inc. increased its position in FirstEnergy by 5.2% in the third quarter. Principal Financial Group Inc. now owns 617,768 shares of the utilities provider’s stock worth $27,398,000 after buying an additional 30,769 shares during the period. Finally, Tyler Stone Wealth Management lifted its stake in FirstEnergy by 94.4% in the third quarter. Tyler Stone Wealth Management now owns 22,817 shares of the utilities provider’s stock valued at $1,012,000 after buying an additional 11,081 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Guggenheim lowered their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 28th. KeyCorp reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Morgan Stanley reduced their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Scotiabank cut their target price on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.33.

FirstEnergy Trading Up 0.7 %

Shares of FirstEnergy stock opened at $38.54 on Friday. The business has a fifty day simple moving average of $39.98 and a 200-day simple moving average of $41.62. FirstEnergy Corp. has a fifty-two week low of $36.81 and a fifty-two week high of $44.97. The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business 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%. On average, equities analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were given a $0.425 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.41%. FirstEnergy’s dividend payout ratio (DPR) is 100.00%.

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.