LWM Advisory Services LLC Cuts Stake in FirstEnergy Corp. (NYSE:FE)

LWM Advisory Services LLC reduced its stake in shares of FirstEnergy Corp. (NYSE:FE) by 4.2% during the 4th quarter, HoldingsChannel reports. The fund owned 10,174 shares of the utilities provider’s stock after selling 441 shares during the period. LWM Advisory Services LLC’s holdings in FirstEnergy were worth $405,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FE. Kestra Investment Management LLC purchased a new position in shares of FirstEnergy during the 4th quarter worth about $26,000. True Wealth Design LLC raised its holdings 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 buying an additional 640 shares during the period. WASHINGTON TRUST Co raised its holdings in FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares during the period. Cedar Mountain Advisors LLC purchased a new position in FirstEnergy in the fourth quarter valued at approximately $34,000. Finally, Quarry LP raised its holdings 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 period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 2.3 %

FE stock opened at $42.34 on Friday. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $24.40 billion, a P/E ratio of 27.32, a PEG ratio of 2.07 and a beta of 0.52. The firm has a 50 day simple moving average of $39.89 and a 200-day simple moving average of $41.77.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, February 7th. FirstEnergy’s payout ratio is currently 109.68%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FE shares. Morgan Stanley cut their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $45.00 to $50.00 in a report on Thursday, December 12th. KeyCorp cut their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Finally, Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.