One Wealth Advisors LLC Purchases Shares of 6,087 FirstEnergy Corporation (NYSE:FE)

Key Points

• One Wealth Advisors LLC has acquired 6,087 shares of FirstEnergy Corporation worth approximately $246,000, amidst increased interest from various hedge funds in the company.
• FirstEnergy's stock is currently trading at $41.96, with a 52-week low of $37.58 and a high of $44.97, indicating potential volatility.
• The company announced a quarterly dividend of $0.445 scheduled for September 1st, with a dividend yield of 4.24% and a payout ratio of 94.68%.

One Wealth Advisors LLC purchased a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,087 shares of the utilities provider's stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dakota Wealth Management grew its holdings in shares of FirstEnergy by 3.4% during the first quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock valued at $309,000 after buying an additional 249 shares in the last quarter. Covestor Ltd grew its stake in FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Focus Partners Wealth grew its stake in FirstEnergy by 1.4% in the fourth quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock valued at $835,000 after purchasing an additional 272 shares in the last quarter. Firethorn Wealth Partners LLC grew its stake in FirstEnergy by 5.5% in the first quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock valued at $222,000 after purchasing an additional 287 shares in the last quarter. Finally, Tranquility Partners LLC grew its stake in FirstEnergy by 1.7% in the first quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Performance

Shares of NYSE FE traded down $0.40 during trading hours on Monday, hitting $41.54. 1,188,137 shares of the company's stock were exchanged, compared to its average volume of 4,994,673. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.58 and a beta of 0.39. The company's 50-day moving average price is $40.74 and its 200-day moving average price is $40.57.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 7th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.28%. FirstEnergy's dividend payout ratio is presently 94.68%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FE shares. Morgan Stanley lowered their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. UBS Group set a $44.00 target price on FirstEnergy and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Bank of America upgraded FirstEnergy from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Finally, Wells Fargo & Company upped their price target on FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, FirstEnergy presently has an average rating of "Hold" and a consensus price target of $45.92.

Insider Activity

In related news, CFO Jon Taylor K. sold 12,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total transaction of $516,360.00. Following the completion of the transaction, the chief financial officer owned 99,919 shares of the company's stock, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer directly owned 183 shares of the company's stock, valued at $7,680.51. This represents a 98.50% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

FirstEnergy 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.