FirstEnergy Corp. (NYSE:FE) Shares Purchased by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC grew its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 38.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,241 shares of the utilities provider’s stock after purchasing an additional 3,965 shares during the period. Twelve Points Wealth Management LLC’s holdings in FirstEnergy were worth $566,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mount Yale Investment Advisors LLC increased its holdings in shares of FirstEnergy by 62.6% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 13,907 shares of the utilities provider’s stock valued at $553,000 after purchasing an additional 5,352 shares in the last quarter. United Asset Strategies Inc. grew its position in FirstEnergy by 1.2% during the fourth quarter. United Asset Strategies Inc. now owns 46,474 shares of the utilities provider’s stock worth $1,849,000 after buying an additional 560 shares during the period. Cornerstone Wealth Group LLC increased its holdings in FirstEnergy by 2.3% in the fourth quarter. Cornerstone Wealth Group LLC now owns 91,101 shares of the utilities provider’s stock valued at $3,624,000 after buying an additional 2,012 shares in the last quarter. KBC Group NV increased its holdings in FirstEnergy by 34.3% in the fourth quarter. KBC Group NV now owns 54,160 shares of the utilities provider’s stock valued at $2,154,000 after buying an additional 13,829 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of FirstEnergy by 23.6% during the 4th quarter. Blue Trust Inc. now owns 5,120 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 979 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FE has been the topic of a number of research reports. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Barclays lifted their price target on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. KeyCorp lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.27.

FirstEnergy Stock Down 1.7 %

Shares of NYSE FE opened at $40.20 on Wednesday. The firm has a market cap of $23.17 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.52. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The firm’s 50 day moving average price is $40.34 and its 200 day moving average price is $41.83.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. As a group, sell-side analysts anticipate that FirstEnergy Corp. will post 2.67 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

FirstEnergy 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.