FirstEnergy Corp. (NYSE:FE) Stock Holdings Lowered by Meridian Wealth Management LLC

Meridian Wealth Management LLC cut its position in FirstEnergy Corp. (NYSE:FE) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,129 shares of the utilities provider’s stock after selling 8,586 shares during the quarter. Meridian Wealth Management LLC’s holdings in FirstEnergy were worth $3,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FE. Kestra Investment Management LLC bought a new position in shares of FirstEnergy in the fourth quarter worth $26,000. True Wealth Design LLC lifted its holdings 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. WASHINGTON TRUST Co boosted its stake in FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in FirstEnergy during the fourth quarter worth about $33,000. Finally, Cedar Mountain Advisors LLC bought a new stake in FirstEnergy in the fourth quarter worth about $34,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 2.3 %

NYSE:FE opened at $39.65 on Tuesday. The business’s fifty day moving average price is $40.07 and its 200 day moving average price is $41.72. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.07 and a beta of 0.52. 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 Corp. has a 1-year low of $36.26 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, sell-side analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were given a $0.425 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.29%. FirstEnergy’s payout ratio is 100.00%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Guggenheim lowered their price objective on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley reduced their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company dropped their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday. KeyCorp reduced their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Finally, Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.33.

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.