Balanced Wealth Group LLC Takes Position in FirstEnergy Corp. (NYSE:FE)

Balanced Wealth Group LLC purchased a new stake in FirstEnergy Corp. (NYSE:FE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 21,461 shares of the utilities provider's stock, valued at approximately $787,000.

Other institutional investors have also modified their holdings of the company. Sugarloaf Wealth Management LLC acquired a new position in FirstEnergy during the 4th quarter worth approximately $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 purchasing an additional 792 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in FirstEnergy in the fourth quarter valued at $40,000. Authentikos Wealth Advisory LLC purchased a new position in FirstEnergy in the third quarter valued at $45,000. Finally, NBC Securities Inc. acquired a new stake in FirstEnergy in the third quarter valued at $45,000. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Stock Performance

NYSE:FE traded up $0.12 during trading hours on Wednesday, reaching $39.47. 2,277,127 shares of the company's stock were exchanged, compared to its average volume of 3,325,995. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $22.72 billion, a price-to-earnings ratio of 22.68 and a beta of 0.48. FirstEnergy Corp. has a 1-year low of $32.18 and a 1-year high of $40.42. The company has a 50-day moving average of $38.07 and a 200 day moving average of $37.30.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Research analysts anticipate that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Increases Dividend

The business 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 dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from FirstEnergy's previous quarterly dividend of $0.41. FirstEnergy's dividend payout ratio is 97.70%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised FirstEnergy from a "sell" rating to a "hold" rating in a research report on Monday, April 29th. Scotiabank lowered their price target on FirstEnergy from $41.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group began coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They set a "buy" rating and a $45.00 price objective on the stock. Finally, Bank of America upped their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an "underperform" rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.80.

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.