FirstEnergy Corp. (NYSE:FE) Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 57.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,413 shares of the utilities provider's stock after selling 26,453 shares during the quarter. Sigma Planning Corp's holdings in FirstEnergy were worth $712,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Sugarloaf Wealth Management LLC purchased a new position in FirstEnergy during the 4th quarter worth $29,000. Blue Trust Inc. grew its stake in shares of FirstEnergy by 327.3% during the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider's stock worth $35,000 after acquiring an additional 792 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $40,000. Authentikos Wealth Advisory LLC purchased a new position in shares of FirstEnergy in the 3rd quarter valued at approximately $45,000. Finally, NBC Securities Inc. acquired a new stake in FirstEnergy in the 3rd quarter worth approximately $45,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

Shares of FE traded up $0.28 during trading hours on Thursday, hitting $38.58. 3,289,719 shares of the stock were exchanged, compared to its average volume of 3,346,997. The stock's 50-day moving average price is $37.81 and its two-hundred day moving average price is $37.09. FirstEnergy Corp. has a 12-month low of $32.18 and a 12-month high of $41.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48. The company has a market cap of $22.20 billion, a price-to-earnings ratio of 21.32 and a beta of 0.48.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.10 billion. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. Research analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The company also recently declared 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 is a boost from FirstEnergy's previous quarterly dividend of $0.41. The ex-dividend date is Monday, May 6th. This represents a $1.70 annualized dividend and a dividend yield of 4.41%. FirstEnergy's dividend payout ratio is 90.61%.

Analysts Set New Price Targets

FE has been the subject of a number of research reports. Bank of America lifted their price target on FirstEnergy from $30.00 to $35.00 and gave the stock an "underperform" rating in a research report on Tuesday. 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. StockNews.com lowered shares of FirstEnergy from a "hold" rating to a "sell" rating in a report on Monday, February 12th. KeyCorp increased their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, January 4th. Finally, Scotiabank cut their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $39.80.

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.