FirstEnergy Corp. (FE) Stake Lessened by Gateway Advisory LLC

Gateway Advisory LLC cut its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 16.5% during the fourth quarter, HoldingsChannel reports. The firm owned 27,983 shares of the utilities provider’s stock after selling 5,522 shares during the period. FirstEnergy accounts for 0.4% of Gateway Advisory LLC’s portfolio, making the stock its 26th biggest position. Gateway Advisory LLC’s holdings in FirstEnergy were worth $1,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. increased its position in shares of FirstEnergy by 251.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,433 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 1,025 shares during the period. Sound Income Strategies LLC increased its position in shares of FirstEnergy by 520.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,788 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 1,500 shares during the period. Investment Partners LTD. acquired a new position in shares of FirstEnergy in the 3rd quarter valued at $216,000. Strategic Wealth Partners Ltd. increased its position in shares of FirstEnergy by 141.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 2,483 shares of the utilities provider’s stock valued at $92,000 after acquiring an additional 1,456 shares during the period. Finally, Winslow Evans & Crocker Inc. acquired a new position in shares of FirstEnergy in the 3rd quarter valued at $114,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

In other FirstEnergy news, EVP James F. Pearson sold 40,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $37.87, for a total value of $1,514,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.



NYSE:FE traded up $0.62 during mid-day trading on Wednesday, hitting $39.37. The company’s stock had a trading volume of 4,897,584 shares, compared to its average volume of 4,583,900. FirstEnergy Corp. has a 1 year low of $30.13 and a 1 year high of $39.88. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.41 and a current ratio of 0.45. The firm has a market cap of $19.88 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.54 and a beta of 0.28.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.82 billion. As a group, equities research analysts predict that FirstEnergy Corp. will post 2.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.86%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio is presently 46.91%.

FE has been the topic of several research reports. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, October 10th. Citigroup upped their target price on FirstEnergy from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Barclays upped their target price on FirstEnergy from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Finally, Morgan Stanley set a $38.00 target price on FirstEnergy and gave the company a “buy” rating in a research report on Thursday, December 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. FirstEnergy has a consensus rating of “Buy” and a consensus target price of $39.00.

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FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

See Also: Hedge Funds

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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