FirstEnergy Corp. (NYSE:FE) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in FirstEnergy Corp. (NYSE:FE - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 215,956 shares of the utilities provider's stock after purchasing an additional 8,871 shares during the period. Mackenzie Financial Corp's holdings in FirstEnergy were worth $8,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Schroder Investment Management Group grew its stake in FirstEnergy by 56.0% during the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock valued at $1,933,000 after acquiring an additional 17,506 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in FirstEnergy by 41.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider's stock valued at $1,902,000 after acquiring an additional 14,129 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in FirstEnergy by 17.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider's stock valued at $211,000 after acquiring an additional 797 shares in the last quarter. Truist Financial Corp grew its stake in FirstEnergy by 19.0% during the fourth quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock valued at $2,483,000 after acquiring an additional 9,979 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in FirstEnergy during the fourth quarter valued at $3,584,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on FE. Mizuho set a $43.00 target price on shares of FirstEnergy in a research note on Monday, April 28th. Morgan Stanley reaffirmed an "overweight" rating and set a $48.00 target price (up from $47.00) on shares of FirstEnergy in a research note on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and raised their target price for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Guggenheim raised their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FirstEnergy currently has a consensus rating of "Hold" and an average price target of $46.00.

Insider Activity at FirstEnergy

In related news, CAO Jason Lisowski sold 12,000 shares of FirstEnergy stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the sale, the chief accounting officer now owns 183 shares in the company, valued at $7,680.51. This trade represents a 98.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

FirstEnergy Trading Up 0.6%

Shares of FirstEnergy stock traded up $0.25 during trading on Friday, hitting $41.95. The stock had a trading volume of 4,922,381 shares, compared to its average volume of 3,711,902. The firm's fifty day simple moving average is $41.44 and its 200-day simple moving average is $40.63. The stock has a market cap of $24.21 billion, a PE ratio of 27.06, a PEG ratio of 2.07 and a beta of 0.42. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a 12 month low of $37.58 and a 12 month high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $0.55 EPS. As a group, sell-side analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.24%. FirstEnergy's dividend payout ratio (DPR) is presently 94.68%.

FirstEnergy Company Profile

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.