Voleon Capital Management LP Acquires Shares of 15,582 FirstEnergy Corp. (NYSE:FE)

Voleon Capital Management LP bought a new position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,582 shares of the utilities provider's stock, valued at approximately $620,000.

Several other large investors also recently modified their holdings of the business. Covestor Ltd lifted its holdings in FirstEnergy by 69.3% in 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 period. Kestra Investment Management LLC bought a new position in shares of FirstEnergy during the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. purchased a new stake in FirstEnergy in the fourth quarter worth $26,000. WASHINGTON TRUST Co boosted its holdings in FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 586 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in FirstEnergy during the 4th quarter valued at $31,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $42.77 on Friday. The company has a market capitalization of $24.67 billion, a PE ratio of 27.59, a PEG ratio of 2.07 and a beta of 0.41. The business has a fifty day moving average price of $40.28 and a 200-day moving average price of $40.70. 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 for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy's revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. As a group, equities analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a $0.445 dividend. The ex-dividend date is Wednesday, May 7th. This is a boost from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a yield of 4.16%. FirstEnergy's dividend payout ratio is 94.68%.

Wall Street Analyst Weigh In

FE has been the subject of several research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Morgan Stanley reaffirmed an "overweight" rating on shares of FirstEnergy in a research report on Wednesday, April 23rd. Bank of America upgraded FirstEnergy from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $42.00 to $45.00 in a 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 note on Friday, March 21st. Finally, Mizuho set a $43.00 price objective on FirstEnergy in a report on Monday. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, FirstEnergy has an average rating of "Hold" and an average target price of $46.00.

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.

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