FirstEnergy Corp. (NYSE:FE) Shares Purchased by Navalign LLC

Navalign LLC raised its stake in shares of FirstEnergy Corp. (NYSE:FE) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,315 shares of the utilities provider’s stock after purchasing an additional 877 shares during the quarter. Navalign LLC’s holdings in FirstEnergy were worth $635,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FE. Meeder Asset Management Inc. raised its position in FirstEnergy by 3.2% during the fourth quarter. Meeder Asset Management Inc. now owns 8,167 shares of the utilities provider’s stock valued at $343,000 after acquiring an additional 257 shares in the last quarter. MGO One Seven LLC lifted its holdings in FirstEnergy by 4.7% during the third quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 287 shares in the last quarter. Snowden Capital Advisors LLC boosted its holdings in FirstEnergy by 2.2% in the 1st quarter. Snowden Capital Advisors LLC now owns 13,241 shares of the utilities provider’s stock worth $530,000 after buying an additional 287 shares during the last quarter. United Capital Financial Advisers LLC increased its position in shares of FirstEnergy by 2.3% during the second quarter. United Capital Financial Advisers LLC now owns 13,241 shares of the utilities provider’s stock worth $515,000 after purchasing an additional 292 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. grew its holdings in shares of FirstEnergy by 1.7% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 17,826 shares of the utilities provider’s stock worth $609,000 after buying an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

FE traded up $0.16 during trading on Thursday, reaching $38.62. The company’s stock had a trading volume of 3,237,404 shares, compared to its average volume of 3,549,918. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 21.34 and a beta of 0.48. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.99. The company’s fifty day moving average price is $37.25 and its 200-day moving average price is $36.71. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48.

FirstEnergy (NYSE:FE) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. FirstEnergy’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. On average, equities analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.40%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio is currently 90.61%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FE shares. KeyCorp increased their price objective on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. StockNews.com downgraded FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.67.

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.