FirstEnergy Corp. (NYSE:FE) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY raised its holdings in FirstEnergy Corp. (NYSE:FE) by 56.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,450 shares of the utilities provider’s stock after acquiring an additional 7,750 shares during the period. Spirit of America Management Corp NY’s holdings in FirstEnergy were worth $853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FE. Livelsberger Financial Advisory acquired a new stake in FirstEnergy in the 3rd quarter valued at about $26,000. True Wealth Design LLC lifted its holdings in FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in FirstEnergy in the 4th quarter valued at about $34,000. Quarry LP lifted its holdings in FirstEnergy by 59.1% in the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 320 shares during the last quarter. Finally, Luken Investment Analytics LLC purchased a new stake in FirstEnergy during the fourth quarter valued at about $40,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FE has been the subject of a number of analyst reports. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley reduced their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. KeyCorp reduced their price objective 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. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $46.27.

FirstEnergy Trading Up 0.0 %

NYSE:FE opened at $40.01 on Wednesday. The stock’s 50 day moving average price is $40.14 and its 200 day moving average price is $41.85. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97. The company has a market capitalization of $23.06 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.99 and a beta of 0.52. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56.

FirstEnergy Dividend Announcement

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

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.