FirstEnergy Corp. (NYSE:FE) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in FirstEnergy Corp. (NYSE:FE) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,143 shares of the utilities provider’s stock after selling 522 shares during the quarter. OLD National Bancorp IN’s holdings in FirstEnergy were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Czech National Bank boosted its holdings in FirstEnergy by 40.0% in the third quarter. Czech National Bank now owns 90,190 shares of the utilities provider’s stock valued at $3,083,000 after purchasing an additional 25,769 shares during the period. Spirit of America Management Corp NY boosted its holdings in FirstEnergy by 35.2% in the third quarter. Spirit of America Management Corp NY now owns 12,300 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 3,200 shares during the period. My Legacy Advisors LLC boosted its holdings in FirstEnergy by 10.0% in the third quarter. My Legacy Advisors LLC now owns 17,674 shares of the utilities provider’s stock valued at $630,000 after purchasing an additional 1,603 shares during the period. Toews Corp ADV purchased a new position in FirstEnergy in the third quarter valued at $766,000. Finally, Xponance Inc. boosted its holdings in FirstEnergy by 1.1% in the third quarter. Xponance Inc. now owns 69,589 shares of the utilities provider’s stock valued at $2,379,000 after purchasing an additional 759 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.7 %

FE opened at $38.58 on Friday. The business’s 50-day simple moving average is $37.81 and its 200-day simple moving average is $37.09. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $41.15. The stock has a market capitalization of $22.20 billion, a P/E ratio of 21.32 and a beta of 0.48.

FirstEnergy (NYSE:FE) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.425 per share. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, May 6th. This represents a $1.70 annualized dividend and a yield of 4.41%. FirstEnergy’s payout ratio is presently 90.61%.

Analysts Set New Price Targets

FE has been the subject of a number of recent research reports. StockNews.com lowered FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. KeyCorp lifted their target price on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Bank of America lifted their price target on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday. Scotiabank decreased their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday. Finally, The Goldman Sachs Group began coverage on FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.80.

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.