Wallace Advisory Group LLC Sells 2,529 Shares of FirstEnergy Corp. (NYSE:FE)

Wallace Advisory Group LLC lessened its stake in shares of FirstEnergy Corp. (NYSE:FE) by 17.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,133 shares of the utilities provider’s stock after selling 2,529 shares during the period. Wallace Advisory Group LLC’s holdings in FirstEnergy were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $104,057,000 after buying an additional 171,955 shares during the period. DRW Securities LLC purchased a new position in FirstEnergy during the third quarter valued at approximately $1,154,000. Public Sector Pension Investment Board increased its holdings in FirstEnergy by 52.7% during the second quarter. Public Sector Pension Investment Board now owns 87,811 shares of the utilities provider’s stock valued at $3,361,000 after buying an additional 30,309 shares during the period. Acadian Asset Management LLC purchased a new position in FirstEnergy during the second quarter valued at approximately $596,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in FirstEnergy by 16.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock valued at $8,267,000 after buying an additional 26,874 shares during the period. Institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Jefferies Financial Group assumed coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, September 20th. Morgan Stanley cut their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, KeyCorp cut their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Up 1.0 %

NYSE:FE opened at $39.10 on Tuesday. The company has a market capitalization of $22.53 billion, a P/E ratio of 25.23, a PEG ratio of 2.18 and a beta of 0.52. The firm has a fifty day simple moving average of $40.69 and a 200-day simple moving average of $41.75. FirstEnergy Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. 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 (NYSE:FE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.35%. FirstEnergy’s dividend payout ratio is presently 109.68%.

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.