Wallace Advisory Group LLC Trims Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Wallace Advisory Group LLC lowered its position in FirstEnergy Corp. (NYSE:FEFree Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,801 shares of the utilities provider’s stock after selling 1,259 shares during the quarter. Wallace Advisory Group LLC’s holdings in FirstEnergy were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Street Markets LLC increased its holdings in shares of FirstEnergy by 549.0% in the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 549 shares during the period. Certified Advisory Corp acquired a new position in shares of FirstEnergy in the first quarter valued at approximately $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of FirstEnergy in the third quarter valued at approximately $25,000. Cornerstone Planning Group LLC acquired a new position in shares of FirstEnergy in the second quarter valued at approximately $31,000. Finally, KB Financial Partners LLC acquired a new position in FirstEnergy during the first quarter worth $34,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FE shares. StockNews.com lowered FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. KeyCorp upped their price objective on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.67.

Read Our Latest Report on FE

FirstEnergy Price Performance

Shares of NYSE:FE traded down $0.06 on Friday, hitting $37.96. The company had a trading volume of 5,657,286 shares, compared to its average volume of 3,737,682. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.99. The business has a 50 day moving average of $37.24 and a 200 day moving average of $36.56. The company has a market cap of $21.81 billion, a PE ratio of 20.97 and a beta of 0.48.

FirstEnergy (NYSE:FEGet Free Report) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, equities analysts anticipate that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.64 annualized dividend and a yield of 4.32%. FirstEnergy’s dividend payout ratio (DPR) is presently 90.61%.

FirstEnergy Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.