Occudo Quantitative Strategies LP Sells 11,435 Shares of FirstEnergy Corp. (NYSE:FE)

Occudo Quantitative Strategies LP lessened its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 43.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,089 shares of the utilities provider's stock after selling 11,435 shares during the period. Occudo Quantitative Strategies LP's holdings in FirstEnergy were worth $600,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new position in shares of FirstEnergy during the fourth quarter valued at $12,198,000. Schroder Investment Management Group grew its position in shares of FirstEnergy by 56.0% in the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock valued at $1,933,000 after purchasing an additional 17,506 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of FirstEnergy by 41.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider's stock worth $1,902,000 after purchasing an additional 14,129 shares during the period. Whalen Wealth Management Inc. acquired a new position in shares of FirstEnergy during the 4th quarter worth about $664,000. Finally, AdvisorNet Financial Inc lifted its position in shares of FirstEnergy by 6,689.2% during the 4th quarter. AdvisorNet Financial Inc now owns 10,727 shares of the utilities provider's stock worth $427,000 after purchasing an additional 10,569 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

FirstEnergy stock traded up $0.23 during mid-day trading on Friday, hitting $42.67. 4,413,549 shares of the company were exchanged, compared to its average volume of 3,662,051. The company has a market capitalization of $24.62 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.42. The business has a fifty day moving average of $40.88 and a 200 day moving average of $40.60. FirstEnergy Corp. has a 1-year low of $37.58 and a 1-year high of $44.97. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

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

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 dividend on an annualized basis and a yield of 4.17%. FirstEnergy's dividend payout ratio is 94.68%.

Insider Activity at FirstEnergy

In other news, CFO Jon Taylor K. sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total transaction of $516,360.00. Following the transaction, the chief financial officer now directly owns 99,919 shares in the company, valued at approximately $4,299,514.57. This represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wolfe Research downgraded FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Guggenheim boosted their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Mizuho set a $43.00 price target on shares of FirstEnergy in a report on Monday, April 28th. Finally, Morgan Stanley restated an "overweight" rating on shares of FirstEnergy in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, FirstEnergy currently has a consensus rating of "Hold" and a consensus price target of $46.00.

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.