FirstEnergy Corp. (NYSE:FE) Holdings Decreased by Amalgamated Bank

Amalgamated Bank reduced its holdings in FirstEnergy Corp. (NYSE:FE) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,986 shares of the utilities provider’s stock after selling 2,052 shares during the period. Amalgamated Bank’s holdings in FirstEnergy were worth $4,057,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in FirstEnergy in the fourth quarter valued at about $26,000. True Wealth Design LLC lifted its holdings in shares of FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after buying an additional 640 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy in the 4th quarter valued at approximately $34,000. Finally, Quarry LP increased its holdings in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after buying an additional 320 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of NYSE FE opened at $38.79 on Friday. FirstEnergy Corp. has a 12 month low of $36.01 and a 12 month high of $44.97. The company has a market cap of $22.36 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.07 and a beta of 0.52. The business’s 50 day moving average is $40.07 and its two-hundred day moving average is $41.75. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last announced its 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). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. On average, equities analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business 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 $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, February 7th. FirstEnergy’s payout ratio is presently 109.68%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FE. Wells Fargo & Company reduced their target price 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. Guggenheim reduced 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. Morgan Stanley lowered their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. KeyCorp reduced their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, Scotiabank decreased their price target on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and an average price target of $45.33.

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.