Everpar Advisors LLC Makes New Investment in FirstEnergy Corp. (NYSE:FE)

Everpar Advisors LLC acquired a new position in shares of FirstEnergy Corp. (NYSE:FE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,474 shares of the utilities provider’s stock, valued at approximately $751,000.

Several other large investors have also recently bought and sold shares of the company. Duality Advisers LP bought a new position in shares of FirstEnergy in the 4th quarter worth $1,644,000. Citigroup Inc. boosted its position in shares of FirstEnergy by 27.3% in the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock worth $34,810,000 after purchasing an additional 218,439 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of FirstEnergy by 7.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,231 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 866 shares during the last quarter. Comerica Bank boosted its position in shares of FirstEnergy by 11,260.9% in the 3rd quarter. Comerica Bank now owns 137,581 shares of the utilities provider’s stock worth $4,703,000 after purchasing an additional 136,370 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of FirstEnergy by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 26,086 shares of the utilities provider’s stock worth $899,000 after purchasing an additional 607 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FE. The Goldman Sachs Group began coverage on FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price on the stock. Bank of America lifted their target price on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Scotiabank reduced their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. 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. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $39.80.

FirstEnergy Stock Up 1.0 %

Shares of NYSE:FE traded up $0.38 during midday trading on Tuesday, reaching $39.34. The company had a trading volume of 2,963,132 shares, compared to its average volume of 3,337,840. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average price is $38.07 and its 200 day moving average price is $37.30. The stock has a market cap of $22.64 billion, a PE ratio of 22.61 and a beta of 0.48. FirstEnergy Corp. has a 1-year low of $32.18 and a 1-year high of $40.42.

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

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 yield of 4.32%. The ex-dividend date of this dividend is Monday, May 6th. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is 97.70%.

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.