5,610 Shares in FirstEnergy Corp. (NYSE:FE) Acquired by Camden National Bank

Camden National Bank acquired a new stake in FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,610 shares of the utilities provider’s stock, valued at approximately $223,000.

Several other large investors have also modified their holdings of FE. Kestra Investment Management LLC acquired a new stake in FirstEnergy in the fourth quarter valued at $26,000. True Wealth Design LLC lifted its holdings in shares of 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 purchasing an additional 640 shares in the last quarter. WASHINGTON TRUST Co lifted its stake in FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of FirstEnergy in the fourth quarter valued at $33,000. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of FirstEnergy during the 4th quarter worth about $34,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

FirstEnergy stock opened at $38.54 on Friday. FirstEnergy Corp. has a 52 week low of $36.81 and a 52 week 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 stock has a market cap of $22.22 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The stock has a 50 day moving average of $39.98 and a 200-day moving average of $41.61.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

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

Analyst Upgrades and Downgrades

FE has been the topic of several recent analyst reports. KeyCorp reduced their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Wells Fargo & Company reduced their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Scotiabank dropped their target price on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research note on Friday, February 28th. Finally, Guggenheim decreased their price target on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.33.

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.