FirstEnergy Corp. (NYSE:FE) Shares Purchased by Prossimo Advisors LLC

Prossimo Advisors LLC raised its holdings in FirstEnergy Corp. (NYSE:FE) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,616 shares of the utilities provider’s stock after buying an additional 636 shares during the period. Prossimo Advisors LLC’s holdings in FirstEnergy were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new stake in shares of FirstEnergy in the 4th quarter valued at about $26,000. True Wealth Design LLC increased its position in FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares during the period. WASHINGTON TRUST Co lifted its stake in FirstEnergy by 293.0% in 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. Cedar Mountain Advisors LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $34,000. Finally, Quarry LP grew its position in shares of FirstEnergy by 59.1% during the third 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. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of FE stock opened at $40.64 on Wednesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The stock has a market cap of $23.42 billion, a PE ratio of 26.22, a P/E/G ratio of 2.00 and a beta of 0.52. FirstEnergy Corp. has a 1 year low of $36.01 and a 1 year high of $44.97. The stock has a fifty day moving average price of $39.82 and a 200 day moving average price of $41.78.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.18%. FirstEnergy’s dividend payout ratio is presently 109.68%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Morgan Stanley reduced their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.27.

About FirstEnergy

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.