FirstEnergy Corp. (NYSE:FE) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in FirstEnergy Corp. (NYSE:FE) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 101,986 shares of the utilities provider’s stock after selling 2,052 shares during the period. Amalgamated Bank’s holdings in FirstEnergy were worth $4,057,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC bought a new position in FirstEnergy during the fourth quarter worth $12,198,000. Allspring Global Investments Holdings LLC lifted its position in shares of FirstEnergy by 2.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock worth $371,911,000 after buying an additional 220,433 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 buying an additional 171,955 shares during the period. Van ECK Associates Corp grew its position in shares of FirstEnergy by 95.3% during the 4th quarter. Van ECK Associates Corp now owns 323,079 shares of the utilities provider’s stock valued at $12,852,000 after buying an additional 157,666 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in FirstEnergy by 177.6% during the fourth quarter. CIBC Asset Management Inc now owns 212,358 shares of the utilities provider’s stock worth $8,448,000 after acquiring an additional 135,870 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.6 %

Shares of FE stock opened at $38.79 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 stock has a 50-day simple moving average of $40.07 and a 200 day simple moving average of $41.75. FirstEnergy Corp. has a fifty-two week low of $36.01 and a fifty-two week high of $44.97. The stock has a market capitalization of $22.36 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.07 and a beta of 0.52.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (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 business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. On average, sell-side analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

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 given a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.38%. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FE. Morgan Stanley decreased their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Scotiabank reduced their price objective on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research report on Friday. KeyCorp dropped their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Guggenheim reduced their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday. Finally, Wells Fargo & Company lowered their price target on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and an average target price of $45.33.

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.