EntryPoint Capital LLC Makes New $403,000 Investment in FirstEnergy Corp. (NYSE:FE)

EntryPoint Capital LLC bought a new stake in FirstEnergy Corp. (NYSE:FE) during the 4th quarter, Holdings Channel reports. The fund bought 10,124 shares of the utilities provider’s stock, valued at approximately $403,000.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in FirstEnergy in the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. acquired a new position in shares of FirstEnergy in the 4th quarter valued at $26,000. True Wealth Design LLC lifted its stake in shares of 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 purchasing an additional 640 shares during the period. WASHINGTON TRUST Co boosted its position in shares of FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of FirstEnergy during the fourth quarter worth $33,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Down 2.7 %

NYSE:FE opened at $37.95 on Wednesday. The company has a market cap of $21.89 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a twelve month low of $36.81 and a twelve month high of $44.97. The business has a 50 day moving average price of $39.92 and a two-hundred day moving average price of $41.22. 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 announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a $0.445 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s payout ratio is currently 104.71%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FE. KeyCorp cut their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Scotiabank reduced 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 note on Friday, February 28th. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company reduced their price target on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Morgan Stanley lowered their price objective on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.00.

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.