Duality Advisers LP Makes New $1.64 Million Investment in FirstEnergy Corp. (NYSE:FE)

Duality Advisers LP purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,842 shares of the utilities provider’s stock, valued at approximately $1,644,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MGO One Seven LLC boosted its holdings in FirstEnergy by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 287 shares during the period. Allworth Financial LP lifted its holdings in FirstEnergy by 9.3% in the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock worth $137,000 after buying an additional 318 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of FirstEnergy by 1.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock worth $977,000 after buying an additional 339 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of FirstEnergy by 0.5% during the fourth quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after buying an additional 341 shares during the period. Finally, Twelve Points Wealth Management LLC raised its holdings in shares of FirstEnergy by 5.0% during the fourth quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock valued at $278,000 after acquiring an additional 361 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Stock Up 0.1 %

Shares of FirstEnergy stock opened at $38.21 on Tuesday. The company has a 50-day simple moving average of $37.74 and a two-hundred day simple moving average of $37.05. The stock has a market capitalization of $21.99 billion, a PE ratio of 21.11 and a beta of 0.48. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.17. 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 (NYSE:FE) last announced its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts anticipate that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.425 per share. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 90.61%.

Analysts Set New Price Targets

Several analysts recently weighed in on FE shares. Scotiabank cut their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday. StockNews.com cut shares of FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. KeyCorp raised their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Finally, The Goldman Sachs Group began coverage on FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.33.

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.