Centennial Wealth Advisory LLC Buys 1,022 Shares of FirstEnergy Corp. (NYSE:FE)

Centennial Wealth Advisory LLC raised its stake in shares of FirstEnergy Corp. (NYSE:FE) by 13.6% in the 4th quarter, Holdings Channel reports. The firm owned 8,535 shares of the utilities provider’s stock after acquiring an additional 1,022 shares during the period. Centennial Wealth Advisory LLC’s holdings in FirstEnergy were worth $340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC bought a new position in shares of FirstEnergy in the 4th quarter valued at about $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of FirstEnergy by 7.9% in the 3rd 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 acquiring an additional 171,955 shares during the last quarter. DRW Securities LLC bought a new position in shares of FirstEnergy in the 3rd quarter valued at about $1,154,000. Whalen Wealth Management Inc. bought a new position in shares of FirstEnergy in the 4th quarter valued at about $664,000. Finally, Nomura Asset Management Co. Ltd. raised its position in FirstEnergy by 16.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock worth $8,267,000 after purchasing an additional 26,874 shares during the period. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of FE opened at $40.23 on Thursday. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The company has a 50 day moving average of $40.10 and a two-hundred day moving average of $41.85. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The company has a market cap of $23.18 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.99 and a beta of 0.52.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.23%. FirstEnergy’s payout ratio is currently 109.68%.

Analysts Set New Price Targets

A number of research firms recently weighed in on FE. Morgan Stanley reduced their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group started 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. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. 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 research report on Friday, October 18th. Finally, Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, FirstEnergy has an average rating of “Hold” and a consensus price target of $46.27.

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.