Luken Investment Analytics LLC Takes $40,000 Position in FirstEnergy Corp. (NYSE:FE)

Luken Investment Analytics LLC bought a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,000 shares of the utilities provider’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FE. Livelsberger Financial Advisory purchased a new position in FirstEnergy during the third quarter worth about $26,000. True Wealth Design LLC grew 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 worth $29,000 after purchasing an additional 640 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of FirstEnergy during the second quarter worth about $32,000. Cedar Mountain Advisors LLC purchased a new stake in FirstEnergy in the fourth quarter worth about $34,000. Finally, Quarry LP grew its stake in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FE. JPMorgan Chase & Co. upped their price target on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, October 18th. KeyCorp decreased their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley cut their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Up 0.2 %

Shares of FE opened at $39.73 on Friday. 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 $22.90 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.98 and a beta of 0.52. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97. The firm has a 50 day simple moving average of $40.27 and a 200-day simple moving average of $41.81.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. Equities analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

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.