Larson Financial Group LLC Has $1.87 Million Stock Position in FirstEnergy Corp. (NYSE:FE)

Larson Financial Group LLC raised its stake in shares of FirstEnergy Corp. (NYSE:FE) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,111 shares of the utilities provider’s stock after purchasing an additional 8,144 shares during the quarter. Larson Financial Group LLC’s holdings in FirstEnergy were worth $1,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $30,069,000. Wedge Capital Management L L P NC acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $12,198,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of FirstEnergy by 2.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock worth $371,911,000 after acquiring an additional 220,433 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of FirstEnergy by 7.9% in 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 in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of FirstEnergy by 95.3% in the 4th quarter. Van ECK Associates Corp now owns 323,079 shares of the utilities provider’s stock worth $12,852,000 after acquiring an additional 157,666 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on FE. Scotiabank dropped their price objective on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company dropped their price objective on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. KeyCorp dropped their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, Guggenheim dropped their price objective 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.33.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $38.54 on Friday. The firm has a fifty day moving average of $39.98 and a two-hundred day moving average of $41.61. The stock has a market capitalization of $22.22 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 52 week low of $36.81 and a 52 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 (NYSE:FE) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) 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 firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, equities research analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

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

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.