Larson Financial Group LLC Has $1.43 Million Stake in FirstEnergy Corp. (NYSE:FE)

Larson Financial Group LLC decreased its position in shares of FirstEnergy Corp. (NYSE:FE) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,092 shares of the utilities provider’s stock after selling 1,020 shares during the period. Larson Financial Group LLC’s holdings in FirstEnergy were worth $1,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $29,000. Blue Trust Inc. raised its position in shares of FirstEnergy by 327.3% during 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 last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $40,000. Authentikos Wealth Advisory LLC acquired a new position in shares of FirstEnergy during the third quarter valued at about $45,000. Finally, NBC Securities Inc. acquired a new position in shares of FirstEnergy during the third quarter valued at about $45,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the subject of a number of research analyst reports. KeyCorp upped their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Bank of America increased their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research report on Tuesday. StockNews.com lowered shares of FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Scotiabank decreased their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and a consensus target price of $39.80.

FirstEnergy Price Performance

Shares of FE traded up $0.12 during mid-day trading on Tuesday, hitting $38.33. 721,512 shares of the company traded hands, compared to its average volume of 3,342,658. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $41.17. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10. The business has a 50-day moving average of $37.74 and a 200 day moving average of $37.05. The stock has a market capitalization of $22.06 billion, a price-to-earnings ratio of 21.20 and a beta of 0.48.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business posted $0.50 earnings per share. FirstEnergy’s revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.425 dividend. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s dividend payout ratio is currently 90.61%.

About FirstEnergy

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.