Sequoia Financial Advisors LLC Purchases 2,081 Shares of FirstEnergy Corp. (NYSE:FE)

Sequoia Financial Advisors LLC raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,944 shares of the utilities provider’s stock after buying an additional 2,081 shares during the period. Sequoia Financial Advisors LLC’s holdings in FirstEnergy were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FE. Kestra Investment Management LLC acquired a new stake in FirstEnergy during the 4th quarter valued at $26,000. True Wealth Design LLC raised its holdings in shares of FirstEnergy by 4,571.4% in 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 lifted its position in FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after buying an additional 586 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in FirstEnergy during the 4th quarter worth about $33,000. Finally, Cedar Mountain Advisors LLC acquired a new stake in FirstEnergy in the 4th quarter valued at about $34,000. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Guggenheim decreased their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. KeyCorp cut their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Wells Fargo & Company cut their target price on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.33.

FirstEnergy Stock Up 1.6 %

NYSE:FE opened at $39.79 on Friday. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.07 and a beta of 0.48. 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 stock has a 50-day moving average price of $39.91 and a two-hundred day moving average price of $41.47. FirstEnergy Corp. has a 1 year low of $36.81 and a 1 year high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 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%. As a group, equities analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 100.00%.

FirstEnergy Company 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.