Entropy Technologies LP Buys 37,277 Shares of FirstEnergy Corp. (NYSE:FE)

Entropy Technologies LP increased its stake in shares of FirstEnergy Corp. (NYSE:FE) by 217.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 54,457 shares of the utilities provider’s stock after acquiring an additional 37,277 shares during the period. Entropy Technologies LP’s holdings in FirstEnergy were worth $2,166,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC lifted its position in FirstEnergy by 11.3% during the 4th quarter. Empowered Funds LLC now owns 10,481 shares of the utilities provider’s stock worth $417,000 after acquiring an additional 1,060 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its stake in shares of FirstEnergy by 6.6% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 9,654 shares of the utilities provider’s stock worth $384,000 after purchasing an additional 600 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of FirstEnergy by 2.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,613 shares of the utilities provider’s stock worth $2,252,000 after purchasing an additional 1,379 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in FirstEnergy by 7.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,305,644 shares of the utilities provider’s stock valued at $51,939,000 after purchasing an additional 85,514 shares during the period. Finally, Bleakley Financial Group LLC grew its holdings in FirstEnergy by 46.3% in the 4th quarter. Bleakley Financial Group LLC now owns 13,913 shares of the utilities provider’s stock valued at $553,000 after buying an additional 4,400 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on FE. Morgan Stanley cut their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $45.00 to $50.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group started coverage on FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.27.

FirstEnergy Trading Up 0.1 %

Shares of FE opened at $40.17 on Monday. The stock has a 50 day simple moving average of $39.95 and a 200-day simple moving average of $41.84. 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 market cap of $23.15 billion, a PE ratio of 25.92, a PEG ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.23%. FirstEnergy’s payout ratio is presently 109.68%.

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.