Fulton Bank N.A. Has $565,000 Stock Position in FirstEnergy Corp. (NYSE:FE)

Fulton Bank N.A. lifted its position in shares of FirstEnergy Corp. (NYSE:FE) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,206 shares of the utilities provider’s stock after purchasing an additional 3,548 shares during the quarter. Fulton Bank N.A.’s holdings in FirstEnergy were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC increased its holdings in FirstEnergy by 4.1% in the 2nd quarter. Private Advisor Group LLC now owns 23,189 shares of the utilities provider’s stock valued at $887,000 after buying an additional 911 shares during the period. Acadian Asset Management LLC acquired a new position in FirstEnergy in the second quarter worth about $596,000. Ashton Thomas Private Wealth LLC bought a new position in FirstEnergy during the second quarter worth about $38,000. Wedbush Securities Inc. boosted its holdings in FirstEnergy by 5.7% during the second quarter. Wedbush Securities Inc. now owns 6,062 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 327 shares in the last quarter. Finally, Choreo LLC bought a new stake in shares of FirstEnergy in the 2nd quarter valued at approximately $430,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

Shares of FE stock opened at $39.81 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. The firm has a market cap of $22.94 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.18 and a beta of 0.52. The stock has a 50-day moving average price of $40.80 and a 200 day moving average price of $41.70.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts expect that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be paid a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.27%. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FE shares. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays boosted their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. KeyCorp dropped their target price 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. Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.27.

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.