Spire Wealth Management Sells 1,331 Shares of FirstEnergy Corp. (NYSE:FE)

Spire Wealth Management trimmed its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,749 shares of the utilities provider’s stock after selling 1,331 shares during the quarter. Spire Wealth Management’s holdings in FirstEnergy were worth $706,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in FirstEnergy during the 3rd quarter worth approximately $26,000. True Wealth Design LLC grew its holdings in FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 640 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in FirstEnergy during the 4th quarter worth approximately $34,000. Quarry LP grew its holdings in FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 320 shares during the last quarter. Finally, Luken Investment Analytics LLC bought a new stake in FirstEnergy during the 4th quarter worth approximately $40,000. 89.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FE. JPMorgan Chase & Co. boosted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley dropped their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp dropped their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Stock Up 0.0 %

Shares of NYSE FE opened at $40.01 on Wednesday. FirstEnergy Corp. has a 12-month low of $35.41 and a 12-month high of $44.97. The firm has a market cap of $23.06 billion, a PE ratio of 25.81, a P/E/G ratio of 1.99 and a beta of 0.52. The company’s fifty day simple moving average is $40.14 and its 200 day simple moving average is $41.85. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

FirstEnergy Company 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.