Navalign LLC Has $635,000 Stake in FirstEnergy Corp. (NYSE:FE)

Navalign LLC increased its position in FirstEnergy Corp. (NYSE:FE) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,315 shares of the utilities provider’s stock after purchasing an additional 877 shares during the period. Navalign LLC’s holdings in FirstEnergy were worth $635,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in shares of FirstEnergy by 3.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,167 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 257 shares during the last quarter. MGO One Seven LLC lifted its stake in FirstEnergy by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 287 shares in the last quarter. Snowden Capital Advisors LLC boosted its holdings in FirstEnergy by 2.2% during the 1st quarter. Snowden Capital Advisors LLC now owns 13,241 shares of the utilities provider’s stock worth $530,000 after acquiring an additional 287 shares during the last quarter. United Capital Financial Advisers LLC grew its position in FirstEnergy by 2.3% in the 2nd quarter. United Capital Financial Advisers LLC now owns 13,241 shares of the utilities provider’s stock worth $515,000 after purchasing an additional 292 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. lifted its position in shares of FirstEnergy by 1.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 17,826 shares of the utilities provider’s stock worth $609,000 after buying an additional 306 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent analyst reports. StockNews.com lowered FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. KeyCorp lifted their target price on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.67.

FirstEnergy Price Performance

Shares of FE traded up $0.16 during midday trading on Thursday, hitting $38.62. 3,237,404 shares of the company traded hands, compared to its average volume of 3,549,918. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $41.99. The firm has a market cap of $22.18 billion, a P/E ratio of 21.34 and a beta of 0.48. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38. The stock has a 50-day moving average of $37.25 and a 200-day moving average of $36.71.

FirstEnergy (NYSE:FE) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. FirstEnergy’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, sell-side analysts predict that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.425 dividend. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio is currently 90.61%.

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.