Great Valley Advisor Group Inc. Invests $207,000 in FirstEnergy Corp. (FE) Stock

Great Valley Advisor Group Inc. bought a new stake in FirstEnergy Corp. (NYSE:FE) during the first quarter, Holdings Channel reports. The fund bought 4,982 shares of the utilities provider’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FE. Kaizen Advisory LLC grew its stake in FirstEnergy by 23.6% during the fourth quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock worth $50,000 after buying an additional 254 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in FirstEnergy by 1.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 16,417 shares of the utilities provider’s stock worth $618,000 after buying an additional 255 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in FirstEnergy by 0.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 70,598 shares of the utilities provider’s stock worth $2,651,000 after buying an additional 283 shares during the last quarter. Investors Research Corp grew its stake in FirstEnergy by 1.2% during the fourth quarter. Investors Research Corp now owns 25,016 shares of the utilities provider’s stock worth $939,000 after buying an additional 300 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its stake in FirstEnergy by 13.7% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,499 shares of the utilities provider’s stock worth $94,000 after buying an additional 302 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE FE opened at $41.48 on Monday. FirstEnergy Corp. has a fifty-two week low of $32.92 and a fifty-two week high of $42.13. The company has a market capitalization of $22.04 billion, a P/E ratio of 16.02 and a beta of 0.30. The company has a current ratio of 0.54, a quick ratio of 0.46 and a debt-to-equity ratio of 2.72.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Research analysts predict that FirstEnergy Corp. will post 2.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.38 dividend. The ex-dividend date is Monday, May 6th. This represents a $1.52 annualized dividend and a yield of 3.66%. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.

FE has been the topic of a number of research reports. Bank of America upped their target price on shares of FirstEnergy from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, March 4th. Morgan Stanley set a $44.00 target price on shares of FirstEnergy and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $46.00 in a research report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. FirstEnergy currently has a consensus rating of “Buy” and a consensus price target of $42.86.

In other FirstEnergy news, EVP Leila L. Vespoli sold 24,400 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $41.33, for a total value of $1,008,452.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

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About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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