My Legacy Advisors LLC Has $734,000 Position in FirstEnergy Corp. (NYSE:FE)

My Legacy Advisors LLC grew its stake in FirstEnergy Corp. (NYSE:FE) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,150 shares of the utilities provider’s stock after buying an additional 915 shares during the period. My Legacy Advisors LLC’s holdings in FirstEnergy were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in FirstEnergy in the fourth quarter worth approximately $256,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in FirstEnergy by 41.8% in 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 acquiring an additional 14,129 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in FirstEnergy by 46.3% in the fourth quarter. Bleakley Financial Group LLC now owns 13,913 shares of the utilities provider’s stock worth $553,000 after acquiring an additional 4,400 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in FirstEnergy by 7.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,305,644 shares of the utilities provider’s stock worth $51,939,000 after acquiring an additional 85,514 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in FirstEnergy by 2.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,613 shares of the utilities provider’s stock worth $2,252,000 after acquiring an additional 1,379 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $40.12 on Wednesday. The business’s fifty day simple moving average is $41.53 and its 200 day simple moving average is $40.59. The firm has a market capitalization of $23.16 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. FirstEnergy Corp. has a 12 month low of $37.58 and a 12 month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm 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%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, analysts anticipate that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th were given a dividend of $0.445 per share. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.44%. FirstEnergy’s dividend payout ratio is presently 94.68%.

Insider Buying and Selling at FirstEnergy

In related news, CAO Jason Lisowski sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the sale, the chief accounting officer now owns 183 shares in the company, valued at $7,680.51. This represents a 98.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Mizuho set a $43.00 target price on FirstEnergy in a report on Monday, April 28th. Evercore ISI raised their target price on FirstEnergy from $41.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Wells Fargo & Company raised their target price on FirstEnergy from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. Finally, Morgan Stanley restated an “overweight” rating and issued a $48.00 target price (up previously from $47.00) on shares of FirstEnergy in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.00.

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.