Massmutual Trust Co. FSB ADV Has $53,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Massmutual Trust Co. FSB ADV lifted its stake in FirstEnergy Corp. (NYSE:FE) by 43.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,393 shares of the utilities provider’s stock after acquiring an additional 425 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in FirstEnergy were worth $53,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sachetta LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at about $25,000. FinTrust Capital Advisors LLC grew its holdings in FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the last quarter. Scarborough Advisors LLC bought a new position in FirstEnergy in the 4th quarter worth approximately $31,000. Western Pacific Wealth Management LP bought a new position in FirstEnergy in the 1st quarter worth approximately $36,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of FirstEnergy during the fourth quarter worth approximately $40,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.6 %

NYSE FE opened at $42.14 on Wednesday. The stock’s 50 day simple moving average is $39.45 and its 200 day simple moving average is $38.49. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.56. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $43.65. The firm has a market cap of $24.25 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 2.69 and a beta of 0.49.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the company posted $0.47 earnings per share. As a group, sell-side analysts forecast that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Wednesday, August 7th. FirstEnergy’s dividend payout ratio is currently 97.70%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Scotiabank dropped their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Bank of America increased their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Barclays boosted their price target on FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group began coverage on FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.92.

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.