Norden Group LLC Sells 2,126 Shares of FirstEnergy Corp. (NYSE:FE)

Norden Group LLC decreased its holdings in FirstEnergy Corp. (NYSE:FE) by 17.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,414 shares of the utilities provider’s stock after selling 2,126 shares during the period. Norden Group LLC’s holdings in FirstEnergy were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of FirstEnergy by 31.1% in the 3rd quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock valued at $540,996,000 after buying an additional 3,756,228 shares in the last quarter. Invesco Ltd. boosted its stake in FirstEnergy by 3.1% in the third quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock valued at $463,950,000 after acquiring an additional 407,350 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in FirstEnergy by 3.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,848,344 shares of the utilities provider’s stock worth $324,380,000 after purchasing an additional 272,478 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of FirstEnergy by 1.7% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,543,375 shares of the utilities provider’s stock worth $189,473,000 after purchasing an additional 92,561 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of FirstEnergy by 1.2% during the 3rd quarter. Royal Bank of Canada now owns 3,828,791 shares of the utilities provider’s stock valued at $130,867,000 after purchasing an additional 44,031 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.9 %

NYSE FE opened at $38.70 on Thursday. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $40.42. The company has a market cap of $22.27 billion, a P/E ratio of 22.24 and a beta of 0.48. The business has a fifty day moving average price of $37.90 and a 200 day moving average price of $37.20. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. FirstEnergy’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. Research analysts anticipate that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.39%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 94.25%.

Wall Street Analyst Weigh In

FE has been the topic of several research analyst reports. KeyCorp boosted their target price on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group started coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective for the company. Scotiabank dropped their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Bank of America upped their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.80.

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.