Cerity Partners LLC Grows Stock Position in FirstEnergy Corp. (NYSE:FE)

Cerity Partners LLC grew its position in shares of FirstEnergy Corp. (NYSE:FE) by 48.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,653 shares of the utilities provider’s stock after buying an additional 24,953 shares during the period. Cerity Partners LLC’s holdings in FirstEnergy were worth $2,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in shares of FirstEnergy by 3.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,167 shares of the utilities provider’s stock worth $343,000 after acquiring an additional 257 shares during the period. MGO One Seven LLC increased its position in shares of FirstEnergy by 4.7% during the third quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after buying an additional 287 shares during the period. Snowden Capital Advisors LLC increased its position in shares of FirstEnergy by 2.2% during the first quarter. Snowden Capital Advisors LLC now owns 13,241 shares of the utilities provider’s stock valued at $530,000 after buying an additional 287 shares during the period. United Capital Financial Advisers LLC lifted its holdings in shares of FirstEnergy by 2.3% in the second quarter. United Capital Financial Advisers LLC now owns 13,241 shares of the utilities provider’s stock worth $515,000 after buying an additional 292 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. boosted its position in shares of FirstEnergy by 1.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 17,826 shares of the utilities provider’s stock valued at $609,000 after acquiring an additional 306 shares during the period. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of NYSE FE opened at $37.63 on Friday. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 20.79 and a beta of 0.48. The stock’s 50-day moving average is $37.71 and its 200 day moving average is $36.93. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10. FirstEnergy Corp. has a 1-year low of $32.18 and a 1-year high of $41.17.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data 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 company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. On average, sell-side analysts anticipate that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, May 6th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is 93.92%.

Wall Street Analysts Forecast Growth

FE has been the topic of several recent analyst reports. KeyCorp increased their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. StockNews.com lowered FirstEnergy from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, The Goldman Sachs Group started coverage on FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.38.

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.