First Allied Advisory Services Inc. Has $374,000 Position in FirstEnergy Corp. (NYSE:FE)

First Allied Advisory Services Inc. reduced its position in FirstEnergy Corp. (NYSE:FE) by 65.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,852 shares of the utilities provider’s stock after selling 18,325 shares during the quarter. First Allied Advisory Services Inc.’s holdings in FirstEnergy were worth $374,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in FirstEnergy during the fourth quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC lifted its position in FirstEnergy by 98.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 666 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in FirstEnergy during the fourth quarter valued at approximately $52,000. Legacy Financial Advisors Inc. lifted its position in FirstEnergy by 251.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,433 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Bremer Trust National Association bought a new stake in FirstEnergy during the fourth quarter valued at approximately $58,000. Institutional investors own 90.67% of the company’s stock.

Shares of FE stock traded up $0.33 during trading hours on Friday, hitting $41.48. 2,591,354 shares of the company’s stock were exchanged, compared to its average volume of 4,882,846. The company has a market capitalization of $21.65 billion, a PE ratio of 16.02 and a beta of 0.30. FirstEnergy Corp. has a 12-month low of $32.92 and a 12-month high of $42.13. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.46 and a current ratio of 0.52.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.88 billion. FirstEnergy had a return on equity of 21.81% and a net margin of 2.63%. The company’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. On average, research analysts predict that FirstEnergy Corp. will post 2.58 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.

In other FirstEnergy news, EVP Leila L. Vespoli sold 24,400 shares of FirstEnergy stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $41.33, for a total transaction of $1,008,452.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Several equities research analysts have issued reports on FE shares. Zacks Investment Research lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Morgan Stanley lifted their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Finally, Bank of America lifted their target price on shares of FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.86.

WARNING: This story was first posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/04/26/firstenergy-corp-fe-stake-lessened-by-first-allied-advisory-services-inc.html.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

Featured Article: What is insider trading?

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.