Inceptionr LLC Acquires 29,921 Shares of FirstEnergy Corp. (NYSE:FE)

Inceptionr LLC increased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 145.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 50,424 shares of the utilities provider’s stock after purchasing an additional 29,921 shares during the quarter. FirstEnergy makes up 0.4% of Inceptionr LLC’s holdings, making the stock its 22nd largest holding. Inceptionr LLC’s holdings in FirstEnergy were worth $2,006,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FE. Farther Finance Advisors LLC increased its stake in FirstEnergy by 25.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,131 shares of the utilities provider’s stock worth $183,000 after purchasing an additional 836 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of FirstEnergy during the 3rd quarter worth approximately $754,000. National Pension Service grew its stake in shares of FirstEnergy by 2.1% during the 3rd quarter. National Pension Service now owns 854,697 shares of the utilities provider’s stock worth $37,906,000 after acquiring an additional 17,462 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of FirstEnergy by 1.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 292,384 shares of the utilities provider’s stock worth $12,967,000 after acquiring an additional 3,211 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of FirstEnergy by 11.8% during the 3rd quarter. QRG Capital Management Inc. now owns 12,728 shares of the utilities provider’s stock worth $564,000 after acquiring an additional 1,346 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FE. Guggenheim decreased their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Scotiabank decreased their price target on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research note on Friday, February 28th. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley decreased their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.33.

FirstEnergy Price Performance

NYSE:FE opened at $38.57 on Thursday. The firm has a fifty day simple moving average of $40.03 and a 200 day simple moving average of $41.68. FirstEnergy Corp. has a 1-year low of $36.81 and a 1-year high of $44.97. The stock has a market capitalization of $22.23 billion, a PE ratio of 24.88, a P/E/G ratio of 2.07 and a beta of 0.52. 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 (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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. On average, research analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

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

About FirstEnergy

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.