FirstEnergy Corp. (NYSE:FE) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management boosted its position in FirstEnergy Corp. (NYSE:FE) by 28.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,384 shares of the utilities provider’s stock after purchasing an additional 1,646 shares during the period. Dakota Wealth Management’s holdings in FirstEnergy were worth $294,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in shares of FirstEnergy by 1,417.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock valued at $32,965,000 after purchasing an additional 694,313 shares during the period. Allspring Global Investments Holdings LLC grew its position in 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 purchasing an additional 457,231 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in FirstEnergy in the 2nd quarter valued at approximately $14,933,000. Wedge Capital Management L L P NC purchased a new stake in FirstEnergy in the 4th quarter worth approximately $12,198,000. Finally, International Assets Investment Management LLC boosted its stake in shares of FirstEnergy by 4,445.0% during the 3rd quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after buying an additional 214,606 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.4 %

FE stock opened at $39.18 on Friday. The stock has a market capitalization of $22.58 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.97 and a beta of 0.52. The company has a 50-day moving average of $40.35 and a two-hundred day moving average of $41.77. FirstEnergy Corp. has a 52-week low of $35.41 and a 52-week high of $44.97. 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 (NYSE:FE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the business earned $0.88 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that FirstEnergy Corp. will post 2.67 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Analyst Upgrades and Downgrades

FE has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. KeyCorp cut their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Finally, Scotiabank raised shares of 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 report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.27.

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.