Kestra Investment Management LLC Invests $26,000 in FirstEnergy Corp. (NYSE:FE)

Kestra Investment 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 filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 651 shares of the utilities provider’s stock, valued at approximately $26,000.

A number of other institutional investors also recently bought and sold shares of FE. Wedge Capital Management L L P NC bought a new position in shares of FirstEnergy in the 4th quarter worth approximately $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of FirstEnergy by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after acquiring an additional 171,955 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of FirstEnergy in the 3rd quarter worth $1,154,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of FirstEnergy by 41.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock worth $1,902,000 after purchasing an additional 14,129 shares in the last quarter. Finally, Whalen Wealth Management Inc. bought a new position in FirstEnergy in the 4th quarter worth $664,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE FE opened at $42.34 on Friday. The company has a market cap of $24.40 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.07 and a beta of 0.52. The business’s 50 day moving average price is $39.89 and its 200-day moving average price is $41.77. FirstEnergy Corp. has a fifty-two week low of $36.01 and a fifty-two week high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56.

FirstEnergy Dividend Announcement

The company also recently announced 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. 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 currently 109.68%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. 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 report on Wednesday, December 4th. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.27.

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.