WASHINGTON TRUST Co Purchases 586 Shares of FirstEnergy Corp. (NYSE:FE)

WASHINGTON TRUST Co increased its position in FirstEnergy Corp. (NYSE:FE) by 293.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 786 shares of the utilities provider’s stock after purchasing an additional 586 shares during the quarter. WASHINGTON TRUST Co’s holdings in FirstEnergy were worth $31,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FE. Livelsberger Financial Advisory bought a new position in shares of FirstEnergy during the third quarter valued at $26,000. True Wealth Design LLC lifted its holdings in shares of FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the period. Cedar Mountain Advisors LLC bought a new position in shares of FirstEnergy during the fourth quarter valued at $34,000. Quarry LP lifted its holdings in shares of FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 320 shares during the period. Finally, Luken Investment Analytics LLC bought a new position in shares of FirstEnergy during the fourth quarter valued at $40,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of FE stock opened at $40.04 on Friday. The stock has a 50-day moving average price of $39.83 and a 200 day moving average price of $41.81. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The firm has a market cap of $23.08 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a 12 month low of $36.01 and a 12 month high of $44.97.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FE. KeyCorp cut their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Morgan Stanley lowered their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.27.

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.