Amundi Buys 939,240 Shares of FirstEnergy Corp. (NYSE:FE)

Amundi boosted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 103.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,843,964 shares of the utilities provider’s stock after buying an additional 939,240 shares during the quarter. Amundi owned approximately 0.32% of FirstEnergy worth $73,334,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in FirstEnergy during the fourth quarter worth about $26,000. True Wealth Design LLC boosted its position in FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 640 shares during the period. WASHINGTON TRUST Co boosted its position in FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares during the period. SBI Securities Co. Ltd. bought a new position in FirstEnergy during the fourth quarter worth about $33,000. Finally, Cedar Mountain Advisors LLC bought a new position in FirstEnergy during the fourth quarter worth about $34,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $39.14 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $22.57 billion, a P/E ratio of 25.25, a P/E/G ratio of 2.07 and a beta of 0.48. The business has a fifty day simple moving average of $39.96 and a two-hundred day simple moving average of $41.54. FirstEnergy Corp. has a 12 month low of $36.81 and a 12 month high of $44.97.

FirstEnergy (NYSE:FE) last posted its quarterly 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 company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. On average, equities analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, February 7th. FirstEnergy’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

FE has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target 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. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. KeyCorp lowered their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Guggenheim lowered their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Scotiabank lowered their price target on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.33.

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.