Mount Yale Investment Advisors LLC Invests $325,000 in FirstEnergy Corp. (NYSE:FE)

Mount Yale Investment Advisors LLC bought a new position in shares of FirstEnergy Corp. (NYSE:FE) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,408 shares of the utilities provider’s stock, valued at approximately $325,000.

Other large investors also recently modified their holdings of the company. Sachetta LLC acquired a new position in FirstEnergy in the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC lifted its holdings in FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the period. Scarborough Advisors LLC acquired a new position in FirstEnergy in the fourth quarter valued at approximately $31,000. Blue Trust Inc. lifted its holdings in FirstEnergy by 327.3% in the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after buying an additional 792 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in FirstEnergy in the fourth quarter valued at approximately $40,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective on the stock. Scotiabank cut their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Morgan Stanley cut their target price on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.55.

FirstEnergy Stock Up 1.4 %

Shares of FE stock traded up $0.58 during trading hours on Monday, hitting $41.52. 3,114,590 shares of the company were exchanged, compared to its average volume of 2,955,675. The business has a 50 day moving average of $39.08 and a two-hundred day moving average of $38.28. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $41.59. The company has a market capitalization of $23.90 billion, a PE ratio of 23.68, a PEG ratio of 2.58 and a beta of 0.49.

FirstEnergy (NYSE:FE) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. Analysts anticipate that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Wednesday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 97.70%.

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.