Intech Investment Management LLC Lowers Stake in FirstEnergy Corp. (NYSE:FE)

Intech Investment Management LLC cut its position in shares of FirstEnergy Corp. (NYSE:FE) by 21.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,792 shares of the utilities provider’s stock after selling 8,223 shares during the quarter. Intech Investment Management LLC’s holdings in FirstEnergy were worth $1,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy during the fourth quarter worth about $26,000. True Wealth Design LLC grew its holdings in shares of FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares in the last quarter. WASHINGTON TRUST Co grew its holdings in shares of FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after buying an additional 586 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of FirstEnergy during the fourth quarter worth about $33,000. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of FirstEnergy in the fourth quarter worth approximately $34,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Down 0.5 %

NYSE FE opened at $39.62 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 simple moving average is $39.95 and its 200-day simple moving average is $41.32. The stock has a market cap of $22.85 billion, a P/E ratio of 25.56, a PEG ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 52 week low of $36.81 and a 52 week high of $44.97.

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

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be paid 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 is Wednesday, May 7th. This represents a $1.78 annualized dividend and a yield of 4.49%. FirstEnergy’s payout ratio is presently 104.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FE shares. Morgan Stanley decreased their target price on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday. Guggenheim decreased their target price on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. KeyCorp decreased their target price on shares of 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 shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their target price on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.00.

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.