Tranquility Partners LLC Has $711,000 Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Tranquility Partners LLC decreased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,862 shares of the utilities provider’s stock after selling 309 shares during the quarter. Tranquility Partners LLC’s holdings in FirstEnergy were worth $711,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in FirstEnergy by 95.3% in the 4th quarter. Van ECK Associates Corp now owns 323,079 shares of the utilities provider’s stock valued at $12,852,000 after purchasing an additional 157,666 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in 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 worth $371,911,000 after purchasing an additional 220,433 shares in the last quarter. Essex Financial Services Inc. raised its holdings in FirstEnergy by 6.2% in the 4th quarter. Essex Financial Services Inc. now owns 5,819 shares of the utilities provider’s stock valued at $231,000 after buying an additional 340 shares during the last quarter. Savant Capital LLC boosted its position in FirstEnergy by 5.7% during the 4th quarter. Savant Capital LLC now owns 14,777 shares of the utilities provider’s stock worth $588,000 after buying an additional 792 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in FirstEnergy by 12.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 20,562 shares of the utilities provider’s stock worth $818,000 after acquiring an additional 2,195 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Morgan Stanley cut their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. KeyCorp lowered their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. One investment 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 has an average rating of “Hold” and an average price target of $46.27.

FirstEnergy Stock Performance

Shares of FE opened at $39.97 on Thursday. The stock has a 50-day moving average of $39.90 and a 200-day moving average of $41.85. FirstEnergy Corp. has a one year low of $36.01 and a one year high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The company has a market cap of $23.04 billion, a PE ratio of 25.79, a P/E/G ratio of 2.01 and a beta of 0.52.

FirstEnergy Announces Dividend

The firm also recently declared 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 is Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.25%. 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.