Quantinno Capital Management LP Has $3.17 Million Stake in FirstEnergy Corp. (NYSE:FE)

Quantinno Capital Management LP lifted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 37.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,795 shares of the utilities provider’s stock after buying an additional 21,702 shares during the period. Quantinno Capital Management LP’s holdings in FirstEnergy were worth $3,174,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC lifted its holdings in shares of FirstEnergy by 5.0% in the 4th quarter. Merit Financial Group LLC now owns 29,597 shares of the utilities provider’s stock worth $1,177,000 after purchasing an additional 1,415 shares in the last quarter. Arkadios Wealth Advisors bought a new position in shares of FirstEnergy in the 4th quarter worth $202,000. Premier Path Wealth Partners LLC bought a new position in shares of FirstEnergy in the 4th quarter worth $201,000. HB Wealth Management LLC lifted its holdings in shares of FirstEnergy by 34.6% in the 4th quarter. HB Wealth Management LLC now owns 9,538 shares of the utilities provider’s stock worth $379,000 after purchasing an additional 2,454 shares in the last quarter. Finally, AHL Investment Management Inc. bought a new position in shares of FirstEnergy in the 4th quarter worth $879,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jon Taylor K. sold 12,000 shares of FirstEnergy stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the sale, the chief financial officer now owns 99,919 shares of the company’s stock, valued at approximately $4,299,514.57. This trade represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FE has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Guggenheim raised their price objective on FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, April 7th. UBS Group raised their price objective on FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Evercore ISI raised their price objective on FirstEnergy from $41.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.00.

FirstEnergy Trading Up 0.3%

NYSE FE opened at $42.82 on Tuesday. The stock has a market capitalization of $24.71 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.07 and a beta of 0.42. FirstEnergy Corp. has a one year low of $37.58 and a one year high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The business’s fifty day moving average is $40.97 and its 200-day moving average is $40.60.

FirstEnergy (NYSE:FE) last released its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.68 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. Equities research analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a $0.445 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 annualized dividend and a yield of 4.16%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s dividend payout ratio (DPR) is 94.68%.

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.