Angeles Investment Advisors LLC Sells 405 Shares of FirstEnergy Corp. (NYSE:FE)

Angeles Investment Advisors LLC cut its stake in shares of FirstEnergy Corp. (NYSE:FE) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,664 shares of the utilities provider’s stock after selling 405 shares during the quarter. Angeles Investment Advisors LLC’s holdings in FirstEnergy were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in FE. Balanced Wealth Group LLC increased its stake in shares of FirstEnergy by 0.9% in the fourth quarter. Balanced Wealth Group LLC now owns 26,991 shares of the utilities provider’s stock worth $1,074,000 after buying an additional 250 shares during the period. Quarry LP grew its position in shares of FirstEnergy by 59.1% in the 3rd 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. Brooklyn Investment Group grew its position in shares of FirstEnergy by 6.7% in the 4th quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider’s stock worth $205,000 after buying an additional 324 shares during the period. Venturi Wealth Management LLC grew its position in shares of FirstEnergy by 33.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,326 shares of the utilities provider’s stock worth $53,000 after buying an additional 329 shares during the period. Finally, Horizon Investments LLC boosted its stake in FirstEnergy by 4.8% in the 4th quarter. Horizon Investments LLC now owns 7,290 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 336 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $39.62 on Monday. FirstEnergy Corp. has a twelve month low of $36.81 and a twelve month high of $44.97. The company’s 50 day moving average is $39.95 and its 200 day moving average is $41.30. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The company has a market cap of $22.85 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

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

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be paid a $0.445 dividend. The ex-dividend date is Wednesday, May 7th. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.49%. FirstEnergy’s dividend payout ratio (DPR) is 104.71%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FE shares. Scotiabank lowered their target price on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 28th. KeyCorp lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group increased their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Finally, Guggenheim cut their price objective on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.00.

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.