Toronto Dominion Bank Sells 3,719 Shares of FirstEnergy Corp. (NYSE:FE)

Toronto Dominion Bank trimmed its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,109 shares of the utilities provider’s stock after selling 3,719 shares during the quarter. Toronto Dominion Bank’s holdings in FirstEnergy were worth $8,756,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 255 shares during the last quarter. Kestra Investment Management LLC bought a new stake in FirstEnergy during the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new stake in FirstEnergy during the 4th quarter worth approximately $26,000. WASHINGTON TRUST Co grew its holdings in FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 586 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in FirstEnergy during the 4th quarter worth approximately $31,000. 89.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FE. Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a research note on Friday, April 25th. Evercore ISI upped their price objective on shares of FirstEnergy from $41.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $48.00 price objective (up from $47.00) on shares of FirstEnergy in a research note on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Finally, UBS Group upped their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, FirstEnergy has an average rating of “Hold” and an average target price of $46.00.

FirstEnergy Stock Down 2.1%

FirstEnergy stock opened at $41.21 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12-month low of $37.58 and a 12-month high of $44.97. The firm’s fifty day moving average is $41.31 and its 200 day moving average is $40.63. The company has a market capitalization of $23.78 billion, a PE ratio of 26.59, a PEG ratio of 2.07 and a beta of 0.42.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 annualized dividend and a yield of 4.32%. FirstEnergy’s dividend payout ratio is presently 94.68%.

Insiders Place Their Bets

In other news, CFO Jon Taylor K. sold 12,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were 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 in the company, valued at $4,299,514.57. This represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.