Entropy Technologies LP Has $2.17 Million Position in FirstEnergy Corp. (NYSE:FE)

Entropy Technologies LP grew its holdings in FirstEnergy Corp. (NYSE:FE) by 217.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,457 shares of the utilities provider’s stock after buying an additional 37,277 shares during the quarter. Entropy Technologies LP’s holdings in FirstEnergy were worth $2,166,000 at the end of the most recent reporting period.

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

FirstEnergy Price Performance

Shares of FE stock opened at $40.17 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12-month low of $35.41 and a 12-month high of $44.97. The firm has a fifty day moving average of $39.95 and a 200-day moving average of $41.84. The firm has a market capitalization of $23.15 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.01 and a beta of 0.52.

FirstEnergy Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.23%. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Wall Street Analyst Weigh In

FE has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Jefferies Financial Group began coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 price target for the company. Finally, KeyCorp reduced 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy presently 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.