Tranquility Partners LLC Lowers Stock Position in FirstEnergy Corp. (NYSE:FE)

Tranquility Partners LLC reduced its position in shares of FirstEnergy Corp. (NYSE:FE) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,862 shares of the utilities provider’s stock after selling 309 shares during the period. Tranquility Partners LLC’s holdings in FirstEnergy were worth $711,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in FirstEnergy by 7.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after acquiring an additional 171,955 shares during the period. DRW Securities LLC purchased a new position in FirstEnergy in the third quarter worth $1,154,000. Whalen Wealth Management Inc. purchased a new stake in shares of FirstEnergy during the 4th quarter valued at $664,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of FirstEnergy by 16.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock worth $8,267,000 after purchasing an additional 26,874 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FE shares. JPMorgan Chase & Co. boosted their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. 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. Finally, Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Price Performance

FirstEnergy stock opened at $39.97 on Thursday. The business has a 50-day simple moving average of $39.90 and a 200 day simple moving average of $41.85. FirstEnergy Corp. has a 52 week low of $36.01 and a 52 week high of $44.97. The stock has a market cap of $23.04 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 2.01 and a beta of 0.52. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

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.