Toronto Dominion Bank Has $8.76 Million Stake in FirstEnergy Corp. (NYSE:FE)

Toronto Dominion Bank reduced its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,109 shares of the utilities provider’s stock after selling 3,719 shares during the period. Toronto Dominion Bank’s holdings in FirstEnergy were worth $8,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Schroder Investment Management Group increased its holdings in shares of FirstEnergy by 56.0% during the 4th quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider’s stock valued at $1,933,000 after acquiring an additional 17,506 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in FirstEnergy by 41.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock worth $1,902,000 after purchasing an additional 14,129 shares during the period. Whalen Wealth Management Inc. acquired a new position in FirstEnergy during the fourth quarter valued at approximately $664,000. Envestnet Portfolio Solutions Inc. grew its holdings in FirstEnergy by 17.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider’s stock valued at $211,000 after purchasing an additional 797 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of FirstEnergy by 19.0% in the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider’s stock valued at $2,483,000 after purchasing an additional 9,979 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

Insider Buying and Selling at FirstEnergy

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total transaction of $516,360.00. Following the completion of the transaction, the chief financial officer now owns 99,919 shares in the company, valued at $4,299,514.57. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FE. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. UBS Group raised their price target on FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Mizuho set a $43.00 price objective on FirstEnergy in a research note on Monday, April 28th. Finally, Guggenheim increased their target price on FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, April 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Stock Down 0.3%

FE stock opened at $42.72 on Wednesday. FirstEnergy Corp. has a twelve month low of $37.58 and a twelve month high of $44.97. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The company has a market cap of $24.66 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.42. The business’s 50-day simple moving average is $41.05 and its 200 day simple moving average is $40.61.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. On average, research analysts anticipate 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. Shareholders of record on Wednesday, May 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.17%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s payout ratio is currently 94.68%.

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.