Kestra Private Wealth Services LLC Boosts Stake in FirstEnergy Corp. (NYSE:FE)

Kestra Private Wealth Services LLC raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 12.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,562 shares of the utilities provider’s stock after buying an additional 2,195 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in FirstEnergy were worth $818,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FE. Assenagon Asset Management S.A. boosted its holdings in shares of FirstEnergy by 1,417.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after purchasing an additional 694,313 shares during the period. Allspring Global Investments Holdings LLC increased its position in FirstEnergy by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after acquiring an additional 457,231 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of FirstEnergy in the fourth quarter valued at $12,198,000. International Assets Investment Management LLC grew its holdings in FirstEnergy by 4,445.0% during the 3rd quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after purchasing an additional 214,606 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in FirstEnergy by 7.9% in 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 purchasing an additional 171,955 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. KeyCorp decreased their price objective 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. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and an average target price of $46.27.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $40.04 on Friday. FirstEnergy Corp. has a one year low of $36.01 and a one year high of $44.97. The company has a 50-day simple moving average of $39.85 and a two-hundred day simple moving average of $41.82. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The company has a market capitalization of $23.08 billion, a PE ratio of 25.83, a P/E/G ratio of 2.01 and a beta of 0.52.

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 paid a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.25%. FirstEnergy’s dividend payout ratio (DPR) is 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.