FirstEnergy Corp. (NYSE:FE) Stake Boosted by Lincoln National Corp

Lincoln National Corp grew its stake in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,734 shares of the utilities provider’s stock after acquiring an additional 471 shares during the period. Lincoln National Corp’s holdings in FirstEnergy were worth $333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Ieq Capital LLC grew its holdings in shares of FirstEnergy by 50.5% during the 3rd quarter. Ieq Capital LLC now owns 11,601 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 3,894 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of FirstEnergy in the 3rd quarter valued at $45,000. MGO One Seven LLC lifted its stake in shares of FirstEnergy by 4.7% in the 3rd quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 287 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of FirstEnergy by 6.8% in the 3rd quarter. Larson Financial Group LLC now owns 40,112 shares of the utilities provider’s stock valued at $1,371,000 after purchasing an additional 2,564 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of FirstEnergy by 7.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,231 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 866 shares during the last quarter. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FE has been the subject of several analyst reports. Guggenheim reduced their price objective on shares of FirstEnergy from $44.00 to $38.00 in a research note on Monday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of FirstEnergy from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. StockNews.com raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Morgan Stanley cut their target price on shares of FirstEnergy from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Finally, KeyCorp boosted their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and an average price target of $39.67.

Get Our Latest Report on FE

Insider Activity at FirstEnergy

In related news, SVP Christine Walker sold 12,500 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $37.58, for a total value of $469,750.00. Following the sale, the senior vice president now owns 36,959 shares of the company’s stock, valued at $1,388,919.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by insiders.

FirstEnergy Stock Performance

NYSE:FE opened at $36.68 on Thursday. The firm’s 50-day moving average is $37.19 and its 200-day moving average is $36.65. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.99. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.43 and a current ratio of 0.53. The company has a market cap of $21.05 billion, a price-to-earnings ratio of 45.85 and a beta of 0.49.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 7th will be paid a $0.41 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $1.64 dividend on an annualized basis and a yield of 4.47%. FirstEnergy’s payout ratio is currently 205.00%.

FirstEnergy Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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