Huber Capital Management LLC Sells 8,606 Shares of FirstEnergy Corp. (NYSE:FE)

Huber Capital Management LLC reduced its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 33.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,500 shares of the utilities provider’s stock after selling 8,606 shares during the period. Huber Capital Management LLC’s holdings in FirstEnergy were worth $696,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FE. HighTower Advisors LLC lifted its position in FirstEnergy by 5.2% during the third quarter. HighTower Advisors LLC now owns 146,982 shares of the utilities provider’s stock valued at $6,530,000 after purchasing an additional 7,215 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of FirstEnergy by 17.5% in the 3rd quarter. Janus Henderson Group PLC now owns 61,697 shares of the utilities provider’s stock worth $2,736,000 after buying an additional 9,200 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in shares of FirstEnergy by 49.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 18,147 shares of the utilities provider’s stock worth $805,000 after buying an additional 6,000 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of FirstEnergy by 14.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,711 shares of the utilities provider’s stock valued at $342,000 after buying an additional 970 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of FirstEnergy by 12.7% in the 3rd quarter. IHT Wealth Management LLC now owns 10,531 shares of the utilities provider’s stock valued at $468,000 after acquiring an additional 1,187 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Up 0.5 %

FE opened at $40.60 on Thursday. FirstEnergy Corp. has a 52 week low of $36.81 and a 52 week high of $44.97. The company has a market capitalization of $23.41 billion, a P/E ratio of 26.19, a PEG ratio of 2.07 and a beta of 0.48. The stock’s fifty day moving average is $39.93 and its two-hundred day moving average is $41.05. 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 (NYSE:FE) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. Analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be paid a $0.445 dividend. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.38%. FirstEnergy’s payout ratio is 104.71%.

Analyst Ratings Changes

FE has been the topic of a number of recent research reports. Guggenheim decreased their price objective on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Scotiabank cut their price objective on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 28th. Morgan Stanley lowered their target price on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, UBS Group upped their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, FirstEnergy has an average rating of “Hold” and an average target price of $45.00.

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.