Amalgamated Bank Trims Holdings in FirstEnergy Corp. (NYSE:FE)

Amalgamated Bank lowered its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,853 shares of the utilities provider’s stock after selling 9,001 shares during the period. Amalgamated Bank’s holdings in FirstEnergy were worth $4,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MGO One Seven LLC lifted its holdings in shares of FirstEnergy by 4.7% during the third quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 287 shares during the period. Allworth Financial LP lifted its stake in shares of FirstEnergy by 9.3% in the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 318 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of FirstEnergy by 1.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after acquiring an additional 339 shares in the last quarter. Daymark Wealth Partners LLC increased its stake in shares of FirstEnergy by 0.5% during the fourth quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock worth $2,641,000 after acquiring an additional 341 shares during the period. Finally, Twelve Points Wealth Management LLC raised its holdings in FirstEnergy by 5.0% during the fourth quarter. Twelve Points Wealth Management LLC now owns 7,595 shares of the utilities provider’s stock worth $278,000 after purchasing an additional 361 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on FE. The Goldman Sachs Group initiated coverage on FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price on the stock. Scotiabank reduced their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Bank of America boosted their price objective on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.80.

FirstEnergy Trading Up 1.0 %

Shares of FE opened at $39.34 on Wednesday. The stock’s fifty day simple moving average is $38.07 and its 200 day simple moving average is $37.30. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $40.42. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $22.64 billion, a P/E ratio of 22.61 and a beta of 0.48.

FirstEnergy (NYSE:FE) last issued its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Monday, May 6th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is currently 97.70%.

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.