Kestra Investment Management LLC Invests $26,000 in FirstEnergy Corp. (NYSE:FE)

Kestra Investment Management LLC purchased a new position in shares of FirstEnergy Corp. (NYSE:FE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 651 shares of the utilities provider’s stock, valued at approximately $26,000.

A number of other large investors also recently bought and sold shares of the business. Balanced Wealth Group LLC grew its stake in FirstEnergy by 0.9% in the 3rd quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider’s stock worth $1,186,000 after acquiring an additional 241 shares in the last quarter. Metis Global Partners LLC grew its stake in FirstEnergy by 1.7% in the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock worth $750,000 after purchasing an additional 288 shares in the last quarter. Quarry LP grew its stake in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Brooklyn Investment Group increased its holdings in FirstEnergy by 6.7% during the 4th quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 324 shares during the period. Finally, Venturi Wealth Management LLC raised its position in FirstEnergy by 33.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,326 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $42.34 on Friday. The company has a 50 day moving average price of $39.89 and a 200 day moving average price of $41.77. The firm has a market capitalization of $24.40 billion, a P/E ratio of 27.32, a PEG ratio of 2.07 and a beta of 0.52. 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 $36.01 and a 52 week high of $44.97.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.01%. FirstEnergy’s payout ratio is currently 109.68%.

Analyst Upgrades and Downgrades

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

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.