Pinebridge Investments L.P. Has $214,000 Stock Position in FirstEnergy Corp. (NYSE:FE)

Pinebridge Investments L.P. trimmed its stake in shares of FirstEnergy Corp. (NYSE:FE) by 54.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,369 shares of the utilities provider’s stock after selling 6,414 shares during the quarter. Pinebridge Investments L.P.’s holdings in FirstEnergy were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in FirstEnergy by 69.3% during the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $26,000. WASHINGTON TRUST Co boosted its holdings in shares of FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 586 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $31,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Trading Up 1.0 %

NYSE FE opened at $42.76 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12 month low of $37.58 and a 12 month high of $44.97. The company has a market capitalization of $24.66 billion, a PE ratio of 27.59, a P/E/G ratio of 2.07 and a beta of 0.41. The stock has a 50-day simple moving average of $40.24 and a 200 day simple moving average of $40.67.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the business earned $0.55 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.16%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s dividend payout ratio (DPR) is 94.68%.

Analyst Ratings Changes

FE has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a report on Wednesday, April 23rd. Scotiabank reissued an “outperform” rating on shares of FirstEnergy in a report on Friday. Guggenheim boosted their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 7th. Wells Fargo & Company upped their price objective on FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Bank of America raised FirstEnergy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and a consensus price target of $46.00.

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.