Keybank National Association OH Has $526,000 Stake in FirstEnergy Corp. (NYSE:FE)

Keybank National Association OH boosted its stake in FirstEnergy Corp. (NYSE:FE) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,215 shares of the utilities provider’s stock after purchasing an additional 2,278 shares during the period. Keybank National Association OH’s holdings in FirstEnergy were worth $526,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FE. Wedge Capital Management L L P NC acquired a new stake in FirstEnergy during the 4th quarter worth about $12,198,000. Allspring Global Investments Holdings LLC grew its holdings in FirstEnergy by 2.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock worth $371,911,000 after acquiring an additional 220,433 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in FirstEnergy by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after acquiring an additional 171,955 shares during the period. Van ECK Associates Corp grew its holdings in FirstEnergy by 95.3% during the 4th quarter. Van ECK Associates Corp now owns 323,079 shares of the utilities provider’s stock worth $12,852,000 after acquiring an additional 157,666 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in FirstEnergy by 177.6% during the 4th quarter. CIBC Asset Management Inc now owns 212,358 shares of the utilities provider’s stock worth $8,448,000 after acquiring an additional 135,870 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Price Performance

Shares of NYSE FE opened at $38.54 on Monday. FirstEnergy Corp. has a fifty-two week low of $36.81 and a fifty-two week high of $44.97. The stock has a market cap of $22.22 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.07 and a beta of 0.48. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm’s 50-day simple moving average is $39.98 and its 200 day simple moving average is $41.60.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results 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 net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, research analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were given a dividend of $0.425 per share. The ex-dividend date was Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.41%. FirstEnergy’s dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley cut their price objective 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. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. KeyCorp cut their price objective 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. Wells Fargo & Company cut their price objective 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. Finally, Guggenheim cut their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, FirstEnergy currently has an average rating of “Hold” and a consensus target price of $45.33.

About FirstEnergy

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.