First Horizon Advisors Inc. Raises Holdings in FirstEnergy Corp. (NYSE:FE)

First Horizon Advisors Inc. increased its holdings in FirstEnergy Corp. (NYSE:FE) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 93,749 shares of the utilities provider’s stock after purchasing an additional 1,161 shares during the quarter. First Horizon Advisors Inc.’s holdings in FirstEnergy were worth $3,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in shares of FirstEnergy in the 4th quarter worth approximately $26,000. True Wealth Design LLC boosted its stake in FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares in the last quarter. WASHINGTON TRUST Co grew its holdings in FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of FirstEnergy during the fourth quarter worth $34,000. Finally, Quarry LP lifted its holdings in shares of FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $45.00 to $50.00 in a research note on Thursday, December 12th. KeyCorp dropped their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Morgan Stanley dropped their target price 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, Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Trading Up 2.3 %

NYSE FE opened at $42.34 on Monday. The company has a fifty day moving average of $39.89 and a 200 day moving average of $41.77. The company has a market capitalization of $24.40 billion, a PE ratio of 27.32, a P/E/G ratio of 2.07 and a beta of 0.52. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a 1 year low of $36.01 and a 1 year high of $44.97.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.01%. FirstEnergy’s payout ratio is 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.