Bryce Point Capital LLC Buys Shares of 13,278 FirstEnergy Corp. (NYSE:FE)

Bryce Point Capital LLC purchased a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,278 shares of the utilities provider’s stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds have also modified their holdings of FE. Wedge Capital Management L L P NC acquired a new position in FirstEnergy in the fourth quarter valued at about $12,198,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $1,902,000 after acquiring an additional 14,129 shares during the period. Whalen Wealth Management Inc. bought a new position in FirstEnergy during the 4th quarter worth approximately $664,000. Nomura Asset Management Co. Ltd. grew its holdings in FirstEnergy by 16.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock valued at $8,267,000 after purchasing an additional 26,874 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in FirstEnergy by 6,689.2% in the fourth quarter. AdvisorNet Financial Inc now owns 10,727 shares of the utilities provider’s stock valued at $427,000 after purchasing an additional 10,569 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Stock Up 1.0 %

FirstEnergy stock opened at $40.99 on Friday. 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 Corp. has a 1-year low of $36.81 and a 1-year high of $44.97. The company has a fifty day simple moving average of $39.97 and a 200 day simple moving average of $41.05. The company has a market cap of $23.64 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

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

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.34%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s dividend payout ratio is currently 104.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FE shares. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Guggenheim reduced their target price on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Wells Fargo & Company cut their price objective on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Scotiabank lowered their target price on 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 analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.00.

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.