FirstEnergy Corp. (NYSE:FE) Stake Reduced by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in FirstEnergy Corp. (NYSE:FE) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,551 shares of the utilities provider’s stock after selling 611 shares during the period. Hartford Investment Management Co.’s holdings in FirstEnergy were worth $1,255,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in FirstEnergy in the 3rd quarter valued at about $26,000. True Wealth Design LLC increased 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 purchasing an additional 640 shares during the period. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $34,000. 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 worth $38,000 after buying an additional 320 shares during the period. Finally, Luken Investment Analytics LLC bought a new position in FirstEnergy in the 4th quarter worth approximately $40,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $40.04 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The company has a market capitalization of $23.08 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 2.01 and a beta of 0.52. The stock has a fifty day moving average of $39.85 and a 200-day moving average of $41.82. FirstEnergy Corp. has a one year low of $36.01 and a one year high of $44.97.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s payout ratio is 109.68%.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Morgan Stanley decreased their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $45.00 to $50.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.