SRS Capital Advisors Inc. Has $345,000 Holdings in FirstEnergy Corp. (NYSE:FE)

SRS Capital Advisors Inc. raised its position in FirstEnergy Corp. (NYSE:FE) by 555.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,663 shares of the utilities provider’s stock after acquiring an additional 7,342 shares during the period. SRS Capital Advisors Inc.’s holdings in FirstEnergy were worth $345,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $26,000. True Wealth Design LLC boosted its position 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 buying an additional 640 shares during the last quarter. WASHINGTON TRUST Co boosted its position in shares of FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at approximately $34,000. Finally, Quarry LP boosted its position 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 buying an additional 320 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE opened at $39.65 on Tuesday. The firm has a market cap of $22.85 billion, a PE ratio of 25.58, a PEG ratio of 2.07 and a beta of 0.52. The stock’s fifty day moving average price is $40.07 and its two-hundred day moving average price is $41.72. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a 1 year low of $36.26 and a 1 year high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Friday, February 7th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.29%. FirstEnergy’s payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company cut their target price on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday. Scotiabank dropped their price target on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a report on Friday. Guggenheim dropped their price target on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley dropped their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, KeyCorp dropped their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $45.33.

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.