Larson Financial Group LLC Has $1.87 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Larson Financial Group LLC increased its stake in FirstEnergy Corp. (NYSE:FE) by 20.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,111 shares of the utilities provider’s stock after purchasing an additional 8,144 shares during the period. Larson Financial Group LLC’s holdings in FirstEnergy were worth $1,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in FirstEnergy by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 88,812 shares of the utilities provider’s stock worth $3,533,000 after purchasing an additional 2,259 shares during the period. Camden National Bank acquired a new position in shares of FirstEnergy during the 4th quarter worth about $223,000. RKL Wealth Management LLC acquired a new position in shares of FirstEnergy during the 4th quarter worth about $405,000. Machina Capital S.A.S. acquired a new position in shares of FirstEnergy during the 4th quarter worth about $1,407,000. Finally, Edgestream Partners L.P. boosted its stake in shares of FirstEnergy by 419.1% during the 4th quarter. Edgestream Partners L.P. now owns 45,206 shares of the utilities provider’s stock worth $1,798,000 after buying an additional 36,498 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.7 %

Shares of FE stock opened at $38.54 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm’s 50-day moving average is $39.98 and its 200-day moving average is $41.61. The stock has a market cap of $22.22 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 52-week low of $36.81 and a 52-week high of $44.97.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data 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 company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. Sell-side analysts predict 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. Shareholders of record on Friday, February 7th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.41%. FirstEnergy’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FE shares. Guggenheim reduced their price objective on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. KeyCorp reduced their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Scotiabank reduced their price objective on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company dropped their target price on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued 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.