Fourpath Capital Management LLC Buys Shares of 7,517 FirstEnergy Corp. (NYSE:FE)

Fourpath Capital Management LLC bought a new stake in FirstEnergy Corp. (NYSE:FE) during the first quarter, Holdings Channel.com reports. The firm bought 7,517 shares of the utilities provider’s stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FE. Schroder Investment Management Group raised its holdings in shares of FirstEnergy by 56.0% in the 4th quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider’s stock valued at $1,933,000 after buying an additional 17,506 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of FirstEnergy by 41.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock valued at $1,902,000 after buying an additional 14,129 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of FirstEnergy by 17.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider’s stock valued at $211,000 after buying an additional 797 shares during the period. Truist Financial Corp raised its holdings in shares of FirstEnergy by 19.0% in the 4th quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider’s stock valued at $2,483,000 after buying an additional 9,979 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of FirstEnergy in the 4th quarter valued at $3,584,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $48.00 price objective (up previously from $47.00) on shares of FirstEnergy in a report on Thursday, May 22nd. Mizuho set a $43.00 price target on FirstEnergy in a report on Monday, April 28th. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a report on Friday, April 25th. Guggenheim upped their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 7th. Finally, Evercore ISI upped their price target on FirstEnergy from $41.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.00.

Insiders Place Their Bets

In other news, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the transaction, the chief accounting officer now directly owns 183 shares of the company’s stock, valued at approximately $7,680.51. This represents a 98.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

FirstEnergy Stock Down 2.1%

Shares of NYSE FE opened at $39.79 on Tuesday. The stock has a market cap of $22.97 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.07 and a beta of 0.40. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 52-week low of $37.58 and a 52-week high of $44.97. The business has a 50-day moving average price of $41.55 and a 200 day moving average price of $40.59.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th were given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 4.47%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, May 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 94.68%.

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.