Cedar Mountain Advisors LLC Invests $34,000 in FirstEnergy Corp. (NYSE:FE)

Cedar Mountain Advisors LLC purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 845 shares of the utilities provider’s stock, valued at approximately $34,000.

Other institutional investors have also recently made changes to their positions in the company. Balanced Wealth Group LLC boosted its position in shares of FirstEnergy by 0.9% during the third quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider’s stock valued at $1,186,000 after buying an additional 241 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of FirstEnergy by 1.7% during the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock valued at $750,000 after buying an additional 288 shares during the last quarter. Quarry LP boosted its position in shares of FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after buying an additional 320 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in FirstEnergy by 3.5% in the third quarter. V Square Quantitative Management LLC now owns 9,514 shares of the utilities provider’s stock worth $422,000 after purchasing an additional 324 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in FirstEnergy by 6.7% in the fourth quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

FE has been the topic of several research reports. KeyCorp dropped their target price 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. JPMorgan Chase & Co. raised their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group started coverage on FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 target price on the stock. Finally, Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.27.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $39.18 on Friday. The firm’s 50 day simple moving average is $40.35 and its two-hundred day simple moving average is $41.77. 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 capitalization of $22.58 billion, a P/E ratio of 25.27, a P/E/G ratio of 1.97 and a beta of 0.52. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share 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 company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. Research analysts expect that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.34%. FirstEnergy’s payout ratio is 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.