10,188 Shares in FirstEnergy Corp. (NYSE:FE) Purchased by RKL Wealth Management LLC

RKL Wealth Management LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,188 shares of the utilities provider’s stock, valued at approximately $405,000.

A number of other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of FirstEnergy in the fourth quarter worth approximately $26,000. True Wealth Design LLC boosted its stake in FirstEnergy by 4,571.4% in the 3rd 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 period. WASHINGTON TRUST Co grew its position in FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in FirstEnergy during the 4th quarter valued at $33,000. Finally, Cedar Mountain Advisors LLC purchased a new stake in shares of FirstEnergy in the fourth quarter valued at $34,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 0.7 %

FirstEnergy stock opened at $38.54 on Friday. The company has a market capitalization of $22.22 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 1-year low of $36.81 and a 1-year high of $44.97. The firm’s fifty day simple moving average is $39.98 and its 200-day simple moving average is $41.62. 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 posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. Sell-side analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank dropped their price target on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 28th. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Guggenheim reduced their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 28th. KeyCorp lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Morgan Stanley cut their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.33.

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.