First Hawaiian Bank Purchases 4,212 Shares of FirstEnergy Corp. (NYSE:FE)

First Hawaiian Bank raised its stake in FirstEnergy Corp. (NYSE:FE) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,784 shares of the utilities provider’s stock after purchasing an additional 4,212 shares during the quarter. First Hawaiian Bank’s holdings in FirstEnergy were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FE. Assenagon Asset Management S.A. raised its stake in shares of FirstEnergy by 1,417.3% in the third quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after purchasing an additional 694,313 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of FirstEnergy by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after acquiring an additional 457,231 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of FirstEnergy during the second quarter valued at approximately $14,933,000. International Assets Investment Management LLC increased its position in shares of FirstEnergy by 4,445.0% during the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after acquiring an additional 214,606 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of FirstEnergy by 7.6% during the second quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after acquiring an additional 193,540 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

NYSE:FE opened at $38.75 on Friday. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.18 and a beta of 0.52. FirstEnergy Corp. has a 52-week low of $35.41 and a 52-week high of $44.97. The stock has a fifty day moving average of $40.74 and a 200 day moving average of $41.70. 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 posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, research analysts expect that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley decreased their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Barclays raised their target price on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. KeyCorp decreased their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, FirstEnergy has a consensus rating of “Hold” and an average 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.