Brooklyn Investment Group Boosts Stock Position in FirstEnergy Corp. (NYSE:FE)

Brooklyn Investment Group grew its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,146 shares of the utilities provider’s stock after purchasing an additional 324 shares during the quarter. Brooklyn Investment Group’s holdings in FirstEnergy were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FE. Envestnet Asset Management Inc. increased its holdings in FirstEnergy by 3.4% during the second quarter. Envestnet Asset Management Inc. now owns 339,439 shares of the utilities provider’s stock worth $12,990,000 after buying an additional 11,274 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of FirstEnergy by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,896,140 shares of the utilities provider’s stock worth $72,570,000 after purchasing an additional 104,253 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of FirstEnergy by 28.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,879 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 2,176 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in FirstEnergy by 16.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,582 shares of the utilities provider’s stock valued at $1,418,000 after purchasing an additional 5,291 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in FirstEnergy in the second quarter worth $252,000. 89.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FE has been the topic of a number of recent research reports. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. 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. Morgan Stanley dropped their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group assumed coverage on shares of FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Down 0.4 %

Shares of FE stock opened at $39.92 on Friday. The company has a market capitalization of $23.01 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.93 and a beta of 0.52. FirstEnergy Corp. has a 52-week low of $35.41 and a 52-week high of $44.97. The business’s fifty day moving average is $40.53 and its 200 day moving average is $41.73. 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 (NYSE:FE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. On average, equities research analysts anticipate that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

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.