Amalgamated Bank Sells 9,001 Shares of FirstEnergy Corp. (NYSE:FE)

Amalgamated Bank trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,853 shares of the utilities provider’s stock after selling 9,001 shares during the period. Amalgamated Bank’s holdings in FirstEnergy were worth $4,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MGO One Seven LLC lifted its position in shares of FirstEnergy by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 287 shares during the last quarter. Allworth Financial LP increased its position in FirstEnergy by 9.3% in the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock worth $137,000 after buying an additional 318 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of FirstEnergy by 1.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock worth $977,000 after buying an additional 339 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in shares of FirstEnergy by 0.5% in the fourth quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after acquiring an additional 341 shares during the period. Finally, Twelve Points Wealth Management LLC grew its stake in shares of FirstEnergy by 5.0% in the fourth quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 361 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on FE. Bank of America upped their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group started coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price for the company. Scotiabank lowered their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.80.

FirstEnergy Trading Up 1.0 %

Shares of FE opened at $39.34 on Wednesday. The stock has a 50 day simple moving average of $38.07 and a 200-day simple moving average of $37.30. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. The stock has a market cap of $22.64 billion, a PE ratio of 22.61 and a beta of 0.48. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $40.42.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts predict that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Monday, May 6th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 dividend on an annualized basis and a yield of 4.32%. FirstEnergy’s payout ratio is 97.70%.

FirstEnergy Company 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.