FirstEnergy Corp. (NYSE:FE) CFO Jon Taylor K. Sells 12,000 Shares of Stock

FirstEnergy Corp. (NYSE:FE) CFO Jon Taylor K. sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total value of $516,360.00. Following the transaction, the chief financial officer now directly owns 99,919 shares in the company, valued at $4,299,514.57. This trade represents a 10.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $42.54 on Friday. The business has a fifty day moving average price of $40.57 and a 200-day moving average price of $40.67. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The company has a market capitalization of $24.55 billion, a PE ratio of 27.45, a PEG ratio of 2.07 and a beta of 0.42. FirstEnergy Corp. has a 1-year low of $37.58 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. As a group, equities analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a $0.445 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a yield of 4.18%. FirstEnergy’s dividend payout ratio is 94.68%.

Institutional Trading of FirstEnergy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dakota Wealth Management raised its position in FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock worth $309,000 after buying an additional 249 shares during the last quarter. Balanced Wealth Group LLC raised its holdings in shares of FirstEnergy by 0.9% during the fourth quarter. Balanced Wealth Group LLC now owns 26,991 shares of the utilities provider’s stock valued at $1,074,000 after purchasing an additional 250 shares during the last quarter. Covestor Ltd raised its holdings in shares of 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 during the last quarter. Equitable Trust Co. lifted its position in FirstEnergy by 1.2% during the first quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider’s stock valued at $917,000 after purchasing an additional 266 shares during the period. Finally, Focus Partners Wealth boosted its holdings in FirstEnergy by 1.4% in the fourth quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider’s stock worth $835,000 after purchasing an additional 272 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FE. Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research report on Wednesday, April 23rd. Scotiabank reiterated an “outperform” rating on shares of FirstEnergy in a research report on Friday, April 25th. Wells Fargo & Company raised their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Finally, Evercore ISI raised their target price on FirstEnergy from $41.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.