Mather Group LLC. Increases Stake in FirstEnergy Corp. (NYSE:FE)

Mather Group LLC. lifted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 16.4% during the 4th quarter, HoldingsChannel reports. The fund owned 3,175 shares of the utilities provider’s stock after acquiring an additional 447 shares during the period. Mather Group LLC.’s holdings in FirstEnergy were worth $126,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Livelsberger Financial Advisory acquired a new stake in FirstEnergy in the third quarter valued at approximately $26,000. True Wealth Design LLC lifted its stake in FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 640 shares during the last quarter. Cedar Mountain Advisors LLC bought a new position in FirstEnergy during the fourth quarter worth $34,000. Quarry LP lifted its stake in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after buying an additional 320 shares during the last quarter. Finally, Luken Investment Analytics LLC bought a new stake in FirstEnergy in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.1 %

FE opened at $40.17 on Friday. The business has a 50 day moving average price of $40.00 and a 200 day moving average price of $41.83. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm has a market cap of $23.15 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.99 and a beta of 0.52.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.23%. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Wall Street Analyst Weigh In

FE has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group assumed coverage on FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, KeyCorp lowered their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One investment 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’s stock. According to MarketBeat, FirstEnergy presently has an average rating of “Hold” and an average target price 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.