Good Life Advisors LLC Decreases Stake in FirstEnergy Corp. (NYSE:FE)

Good Life Advisors LLC reduced its position in FirstEnergy Corp. (NYSE:FE) by 48.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,747 shares of the utilities provider’s stock after selling 5,491 shares during the period. Good Life Advisors LLC’s holdings in FirstEnergy were worth $229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in FirstEnergy in the 4th quarter valued at about $26,000. True Wealth Design LLC boosted its position in FirstEnergy by 4,571.4% in the 3rd 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 last quarter. WASHINGTON TRUST Co raised its stake in shares of FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 586 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of FirstEnergy during the fourth quarter worth about $34,000. Finally, Quarry LP lifted its position in shares of FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FE has been the topic of several research analyst reports. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley reduced their price target 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. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. Finally, KeyCorp reduced their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and an average price target of $46.27.

FirstEnergy Stock Performance

Shares of NYSE FE opened at $42.34 on Friday. 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 firm’s 50-day moving average price is $39.89 and its two-hundred day moving average price is $41.77. FirstEnergy Corp. has a 52-week low of $36.01 and a 52-week high of $44.97. The stock has a market capitalization of $24.40 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.03 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. Stockholders of record on Friday, February 7th will be issued a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.01%. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

FirstEnergy Company 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.