Millington Financial Advisors LLC Purchases Shares of 31,658 FirstEnergy Corp. (NYSE:FE)

Millington Financial Advisors LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,658 shares of the utilities provider’s stock, valued at approximately $1,266,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $12,198,000. Allspring Global Investments Holdings LLC grew its holdings in shares of FirstEnergy by 2.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock valued at $371,911,000 after acquiring an additional 220,433 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of FirstEnergy by 4,445.0% in the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after acquiring an additional 214,606 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in FirstEnergy by 7.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after acquiring an additional 171,955 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in FirstEnergy by 95.3% during the fourth quarter. Van ECK Associates Corp now owns 323,079 shares of the utilities provider’s stock worth $12,852,000 after acquiring an additional 157,666 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

FirstEnergy Price Performance

FirstEnergy stock opened at $42.87 on Tuesday. The company has a market capitalization of $24.70 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.07 and a beta of 0.52. The stock’s 50 day moving average is $39.95 and its 200-day moving average is $41.77. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12 month low of $36.01 and a 12 month high of $44.97.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s payout ratio 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.