Bryn Mawr Capital Management LLC Reduces Holdings in FirstEnergy Corp. (NYSE:FE)

Bryn Mawr Capital Management LLC cut its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,352 shares of the utilities provider’s stock after selling 22,587 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in FirstEnergy were worth $6,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FE. Sugarloaf Wealth Management LLC bought a new position in FirstEnergy in the 4th quarter worth about $29,000. Blue Trust Inc. boosted its position in shares of FirstEnergy by 327.3% in the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 792 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in FirstEnergy during the fourth quarter valued at approximately $40,000. Authentikos Wealth Advisory LLC bought a new stake in FirstEnergy during the 3rd quarter worth approximately $45,000. Finally, NBC Securities Inc. purchased a new stake in FirstEnergy in the 3rd quarter worth approximately $45,000. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

FE has been the subject of a number of recent analyst reports. KeyCorp boosted their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Bank of America boosted their target price on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research report on Tuesday. Scotiabank dropped their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. StockNews.com cut shares of FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group began coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.80.

FirstEnergy Stock Down 1.1 %

Shares of NYSE FE opened at $38.13 on Friday. The stock has a market capitalization of $21.94 billion, a P/E ratio of 21.91 and a beta of 0.48. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $41.15. The firm’s 50 day simple moving average is $37.83 and its two-hundred day simple moving average is $37.12.

FirstEnergy (NYSE:FE) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 13.21%. As a group, analysts expect that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.70 annualized dividend and a dividend yield of 4.46%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is currently 94.25%.

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.