22,095 Shares in FirstEnergy Corp. (NYSE:FE) Purchased by AHL Investment Management Inc.

AHL Investment Management Inc. acquired a new stake in FirstEnergy Corp. (NYSE:FE) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 22,095 shares of the utilities provider’s stock, valued at approximately $879,000.

A number of other hedge funds also recently made changes to their positions in the business. Livelsberger Financial Advisory acquired a new position in FirstEnergy in the 3rd quarter valued at about $26,000. True Wealth Design LLC boosted its stake in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after buying an additional 640 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy during the second quarter worth approximately $32,000. Quarry LP increased its stake in FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 320 shares during the period. Finally, UMB Bank n.a. raised its holdings in FirstEnergy by 48.4% in the 3rd quarter. UMB Bank n.a. now owns 997 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 325 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.4 %

Shares of NYSE:FE opened at $39.92 on Monday. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.93 and a beta of 0.52. The business’s 50 day moving average is $40.53 and its 200 day moving average is $41.76. FirstEnergy Corp. has a 12-month low of $35.41 and a 12-month high of $44.97. 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 posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. On average, sell-side analysts forecast that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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 issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.26%. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FE shares. Morgan Stanley decreased their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 target price on the stock. Barclays raised their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.27.

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.