M&T Bank Corp Acquires 1,250 Shares of FirstEnergy Corp. (NYSE:FE)

M&T Bank Corp boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,946 shares of the utilities provider’s stock after acquiring an additional 1,250 shares during the quarter. M&T Bank Corp’s holdings in FirstEnergy were worth $6,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in FirstEnergy in the 4th quarter valued at approximately $26,000. True Wealth Design LLC raised its stake 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 buying an additional 640 shares during the last quarter. WASHINGTON TRUST Co raised its stake 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 buying an additional 586 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in FirstEnergy during the 4th quarter valued at $33,000. Finally, Cedar Mountain Advisors LLC purchased a new stake in FirstEnergy during the 4th quarter valued at $34,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Trading Up 0.7 %

NYSE:FE opened at $38.54 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The firm has a market capitalization 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. FirstEnergy Corp. has a one year low of $36.81 and a one year high of $44.97. The business has a fifty day moving average price of $39.98 and a 200-day moving average price of $41.62.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Sell-side analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on FE shares. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. KeyCorp decreased 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. Guggenheim decreased their target price on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Morgan Stanley decreased their target price 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 decreased their target price on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.33.

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.