Jackson Hole Capital Partners LLC Has $2.16 Million Stake in FirstEnergy Corp. (NYSE:FE)

Jackson Hole Capital Partners LLC increased its stake in shares of FirstEnergy Corp. (NYSE:FE) by 7.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 59,025 shares of the utilities provider’s stock after acquiring an additional 3,848 shares during the period. Jackson Hole Capital Partners LLC’s holdings in FirstEnergy were worth $2,164,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Duality Advisers LP acquired a new position in shares of FirstEnergy during the 4th quarter valued at about $1,644,000. Citigroup Inc. grew its holdings in FirstEnergy by 27.3% in the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock valued at $34,810,000 after buying an additional 218,439 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in FirstEnergy by 7.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,231 shares of the utilities provider’s stock valued at $418,000 after buying an additional 866 shares during the last quarter. Comerica Bank grew its holdings in FirstEnergy by 11,260.9% in the 3rd quarter. Comerica Bank now owns 137,581 shares of the utilities provider’s stock valued at $4,703,000 after buying an additional 136,370 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in FirstEnergy by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 26,086 shares of the utilities provider’s stock valued at $899,000 after buying an additional 607 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Price Performance

FE stock traded up $0.28 during trading on Thursday, hitting $38.58. The company had a trading volume of 3,289,719 shares, compared to its average volume of 3,346,997. The company has a fifty day moving average price of $37.81 and a two-hundred day moving average price of $37.09. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10. The company has a market cap of $22.20 billion, a P/E ratio of 21.32 and a beta of 0.48. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $41.15.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate 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 return on equity of 13.52% and a net margin of 8.56%. FirstEnergy’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Equities research analysts expect that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors 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. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.70 annualized dividend and a yield of 4.41%. FirstEnergy’s payout ratio is currently 90.61%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FE. StockNews.com lowered FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. KeyCorp raised their target price on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. The Goldman Sachs Group began coverage on FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. Scotiabank lowered their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, Bank of America lifted their price objective on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.80.

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.