Mutual of America Capital Management LLC Sells 3,104 Shares of FirstEnergy Corp. (NYSE:FE)

Mutual of America Capital Management LLC decreased its stake in shares of FirstEnergy Corp. (NYSE:FE) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,176 shares of the utilities provider’s stock after selling 3,104 shares during the quarter. Mutual of America Capital Management LLC’s holdings in FirstEnergy were worth $2,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its holdings in FirstEnergy by 3.2% during the 4th quarter. Meeder Asset Management Inc. now owns 8,167 shares of the utilities provider’s stock valued at $343,000 after buying an additional 257 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of FirstEnergy by 4.7% in the 3rd quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 287 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of FirstEnergy by 2.2% in the 1st quarter. Snowden Capital Advisors LLC now owns 13,241 shares of the utilities provider’s stock valued at $530,000 after purchasing an additional 287 shares in the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of FirstEnergy by 2.3% in the 2nd quarter. United Capital Financial Advisers LLC now owns 13,241 shares of the utilities provider’s stock valued at $515,000 after purchasing an additional 292 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of FirstEnergy by 9.3% in the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on FE shares. KeyCorp boosted their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. StockNews.com lowered shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Finally, The Goldman Sachs Group started coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and an average target price of $40.38.

FirstEnergy Stock Up 1.5 %

Shares of FirstEnergy stock opened at $38.18 on Friday. The firm’s 50 day moving average price is $37.73 and its 200-day moving average price is $36.97. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 2.10. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.17. The company has a market cap of $21.97 billion, a P/E ratio of 21.09 and a beta of 0.48.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts predict 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. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.45%. 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 currently 90.61%.

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.