FirstEnergy Corp. (NYSE:FE) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL decreased its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 48.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,980 shares of the utilities provider's stock after selling 20,058 shares during the quarter. Tudor Investment Corp ET AL's holdings in FirstEnergy were worth $835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FE. Covestor Ltd raised its position in FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in FirstEnergy during the 4th quarter worth about $26,000. Lee Danner & Bass Inc. acquired a new position in shares of FirstEnergy in the 4th quarter valued at about $26,000. WASHINGTON TRUST Co boosted its stake in shares of FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock worth $31,000 after buying an additional 586 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in FirstEnergy during the fourth quarter worth about $31,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Down 1.4%

Shares of FE stock traded down $0.61 during trading on Monday, reaching $41.90. The company's stock had a trading volume of 1,061,265 shares, compared to its average volume of 3,591,549. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 2.07 and a beta of 0.42. The stock's 50-day moving average price is $40.57 and its 200 day moving average price is $40.62. FirstEnergy Corp. 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 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. On average, research analysts anticipate that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be paid a $0.445 dividend. This is an increase from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Wednesday, May 7th. FirstEnergy's dividend payout ratio (DPR) is 94.68%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI upped their price objective on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Morgan Stanley reiterated an "overweight" rating on shares of FirstEnergy in a research report on Wednesday, April 23rd. UBS Group raised their target price on FirstEnergy from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Mizuho set a $43.00 price target on FirstEnergy in a report on Monday, April 28th. Finally, Wolfe Research cut shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $46.00.

Insider Buying and Selling at FirstEnergy

In related news, CFO Jon Taylor K. sold 12,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total transaction of $516,360.00. Following the sale, the chief financial officer now owns 99,919 shares of the company's stock, valued at $4,299,514.57. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

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.