Stevens Capital Management LP Has $330,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Stevens Capital Management LP lessened its position in shares of FirstEnergy Corp. (NYSE:FE) by 26.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,302 shares of the utilities provider’s stock after selling 3,057 shares during the quarter. Stevens Capital Management LP’s holdings in FirstEnergy were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $26,000. True Wealth Design LLC lifted its position in shares of FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $26,000. WASHINGTON TRUST Co lifted its position in shares of 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 buying an additional 586 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FE has been the subject of several analyst reports. Scotiabank cut their target price on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research report on Friday, February 28th. UBS Group lifted their price objective on FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, Guggenheim cut their price objective on FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.00.

FirstEnergy Stock Down 0.5 %

Shares of NYSE:FE opened at $39.62 on Monday. FirstEnergy Corp. has a one year low of $36.81 and a one year high of $44.97. The company has a 50 day moving average of $39.95 and a 200-day moving average of $41.30. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The stock has a market cap of $22.85 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 2.07 and a beta of 0.48.

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

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.445 per share. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.49%. FirstEnergy’s payout ratio is currently 104.71%.

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.