Kiker Wealth Management LLC Invests $661,000 in FirstEnergy Corporation $FE

Kiker Wealth Management LLC bought a new stake in shares of FirstEnergy Corporation (NYSE:FE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,422 shares of the utilities provider’s stock, valued at approximately $661,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in FirstEnergy by 1.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,301,665 shares of the utilities provider’s stock valued at $59,642,000 after purchasing an additional 15,418 shares during the last quarter. First Horizon Corp purchased a new position in shares of FirstEnergy in the third quarter worth $340,000. MGO One Seven LLC raised its holdings in FirstEnergy by 74.4% during the 3rd quarter. MGO One Seven LLC now owns 26,338 shares of the utilities provider’s stock valued at $1,207,000 after buying an additional 11,234 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in FirstEnergy during the 3rd quarter valued at $169,000. Finally, Oregon Public Employees Retirement Fund boosted its position in FirstEnergy by 33.9% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 59,389 shares of the utilities provider’s stock valued at $2,721,000 after buying an additional 15,038 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Stock Performance

FirstEnergy stock opened at $44.75 on Tuesday. The stock’s 50 day simple moving average is $45.44 and its two-hundred day simple moving average is $44.26. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75. The stock has a market cap of $25.85 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.55 and a beta of 0.64. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.78 annualized dividend and a yield of 4.0%. FirstEnergy’s dividend payout ratio (DPR) is currently 77.73%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Scotiabank boosted their price objective on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. Morgan Stanley boosted their price target on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of FirstEnergy in a report on Monday, December 29th. KeyCorp lowered FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company raised FirstEnergy to a “strong-buy” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.