Baker Tilly Wealth Management LLC Has $264,000 Stake in FirstEnergy Corp. (NYSE:FE)

Baker Tilly Wealth Management LLC reduced its position in shares of FirstEnergy Corp. (NYSE:FE) by 10.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,646 shares of the utilities provider’s stock after selling 809 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in FirstEnergy were worth $264,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in FirstEnergy by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after acquiring an additional 171,955 shares during the last quarter. DRW Securities LLC acquired a new position in FirstEnergy during the third quarter worth $1,154,000. Public Sector Pension Investment Board grew its position in FirstEnergy by 52.7% in the second quarter. Public Sector Pension Investment Board now owns 87,811 shares of the utilities provider’s stock valued at $3,361,000 after purchasing an additional 30,309 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in FirstEnergy in the 2nd quarter valued at $596,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in FirstEnergy by 16.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock worth $8,267,000 after buying an additional 26,874 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FE. Morgan Stanley lowered their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group started coverage on FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 price objective on the stock. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, September 20th. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Down 2.6 %

Shares of NYSE:FE opened at $38.75 on Friday. FirstEnergy Corp. has a 12-month low of $35.41 and a 12-month high of $44.97. The business has a 50 day moving average of $40.74 and a 200-day moving average of $41.70. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The stock has a market cap of $22.33 billion, a PE ratio of 25.00, a P/E/G ratio of 2.18 and a beta of 0.52.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, equities research analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

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.