Xponance Inc. Has $3.13 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Xponance Inc. increased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,735 shares of the utilities provider’s stock after buying an additional 2,261 shares during the period. Xponance Inc.’s holdings in FirstEnergy were worth $3,132,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in FirstEnergy during the 4th quarter worth approximately $26,000. True Wealth Design LLC lifted its position in shares of FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 640 shares during the period. WASHINGTON TRUST Co lifted its position in shares of FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $33,000. Finally, Cedar Mountain Advisors LLC acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $34,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FE shares. Morgan Stanley dropped their price target on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Guggenheim lowered their price objective on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, KeyCorp lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.17.

FirstEnergy Stock Performance

FE opened at $39.80 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The company’s fifty day moving average price is $39.93 and its two-hundred day moving average price is $41.37. FirstEnergy Corp. has a 1-year low of $36.81 and a 1-year high of $44.97. The company has a market cap of $22.95 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.07 and a beta of 0.48.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. On average, analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 annualized dividend and a yield of 4.47%. FirstEnergy’s dividend payout ratio is presently 100.00%.

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.