Roxbury Financial LLC Purchases New Position in FirstEnergy Corp. (NYSE:FE)

Roxbury Financial LLC acquired a new stake in FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,710 shares of the utilities provider’s stock, valued at approximately $158,000.

A number of other hedge funds have also recently added to or reduced their stakes in FE. Allspring Global Investments Holdings LLC boosted its stake in shares of FirstEnergy by 2.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock valued at $371,911,000 after purchasing an additional 220,433 shares in the last quarter. Franklin Resources Inc. boosted its position in FirstEnergy by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider’s stock worth $153,081,000 after buying an additional 34,151 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in FirstEnergy by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after buying an additional 171,955 shares during the period. Swiss National Bank grew its holdings in FirstEnergy by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,622,544 shares of the utilities provider’s stock worth $71,960,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in FirstEnergy by 7.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,305,644 shares of the utilities provider’s stock valued at $51,939,000 after acquiring an additional 85,514 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent research reports. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. Morgan Stanley decreased their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, KeyCorp lowered their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Down 0.5 %

NYSE FE opened at $40.04 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 52 week low of $36.01 and a 52 week high of $44.97. The business has a 50 day moving average price of $39.85 and a 200-day moving average price of $41.82. The company has a market cap of $23.08 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.01 and a beta of 0.52.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, February 7th. FirstEnergy’s payout ratio is presently 109.68%.

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.