Tritonpoint Wealth LLC Has $371,000 Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Tritonpoint Wealth LLC trimmed its stake in FirstEnergy Corp. (NYSE:FE) by 17.2% in the first quarter, HoldingsChannel reports. The firm owned 9,186 shares of the utilities provider’s stock after selling 1,907 shares during the period. Tritonpoint Wealth LLC’s holdings in FirstEnergy were worth $371,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Covestor Ltd grew its holdings in FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 255 shares during the period. Kestra Investment Management LLC acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $26,000. WASHINGTON TRUST Co grew its holdings in shares of FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $31,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Jason Lisowski sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the sale, the chief accounting officer now owns 183 shares of the company’s stock, valued at $7,680.51. The trade was a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE stock opened at $40.31 on Friday. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 2.07 and a beta of 0.40. 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 52 week low of $37.58 and a 52 week high of $44.97. The firm’s 50-day simple moving average is $41.63 and its two-hundred day simple moving average is $40.55.

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

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th were given a $0.445 dividend. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.78 annualized dividend and a yield of 4.42%. FirstEnergy’s payout ratio is currently 94.68%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FE shares. Wells Fargo & Company lifted their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. UBS Group lifted their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Bank of America upgraded shares of FirstEnergy from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $42.00 to $45.00 in a report on Wednesday, April 23rd. Scotiabank reiterated an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. Finally, Guggenheim lifted their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.00.

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.