Prossimo Advisors LLC Boosts Stake in FirstEnergy Corp. (NYSE:FE)

Prossimo Advisors LLC boosted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,616 shares of the utilities provider’s stock after acquiring an additional 636 shares during the period. Prossimo Advisors LLC’s holdings in FirstEnergy were worth $422,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of FirstEnergy in the 4th quarter worth $443,000. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy in the fourth quarter valued at about $26,000. Atria Wealth Solutions Inc. grew its holdings in shares of FirstEnergy by 6.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 11,319 shares of the utilities provider’s stock valued at $450,000 after purchasing an additional 660 shares during the period. Venturi Wealth Management LLC increased its position in FirstEnergy by 33.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,326 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 329 shares during the last quarter. Finally, Truist Financial Corp raised its stake in FirstEnergy by 19.0% during the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider’s stock worth $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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. KeyCorp reduced their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Finally, Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $45.00 to $50.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average target price of $46.27.

FirstEnergy Trading Up 1.6 %

NYSE:FE opened at $40.64 on Wednesday. The stock has a fifty day moving average price of $39.82 and a 200 day moving average price of $41.78. 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 Corp. has a 12-month low of $36.01 and a 12-month high of $44.97. The firm has a market cap of $23.42 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 2.00 and a beta of 0.52.

FirstEnergy Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio is presently 109.68%.

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.