First Republic Investment Management Inc. raised its holdings in FirstEnergy Corp. (NYSE:FE) by 39.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,837 shares of the utilities provider’s stock after purchasing an additional 4,485 shares during the quarter. First Republic Investment Management Inc.’s holdings in FirstEnergy were worth $659,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Kaizen Advisory LLC boosted its holdings in shares of FirstEnergy by 23.6% in the 4th quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 254 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of FirstEnergy by 1.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 16,417 shares of the utilities provider’s stock valued at $618,000 after acquiring an additional 255 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of FirstEnergy by 0.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 70,598 shares of the utilities provider’s stock valued at $2,651,000 after acquiring an additional 283 shares during the last quarter. Investors Research Corp lifted its stake in shares of FirstEnergy by 1.2% in the 4th quarter. Investors Research Corp now owns 25,016 shares of the utilities provider’s stock valued at $939,000 after acquiring an additional 300 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of FirstEnergy by 13.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,499 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 302 shares during the last quarter. 90.52% of the stock is currently owned by hedge funds and other institutional investors.

FE has been the subject of a number of research reports. Morgan Stanley increased their price target on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $46.00 in a research note on Wednesday, March 20th. Bank of America increased their price target on FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $42.86.

Shares of FE opened at $41.83 on Thursday. FirstEnergy Corp. has a 52 week low of $32.92 and a 52 week high of $42.53. The firm has a market capitalization of $22.56 billion, a PE ratio of 16.15, a PEG ratio of 2.74 and a beta of 0.30. The company has a debt-to-equity ratio of 2.72, a current ratio of 0.54 and a quick ratio of 0.47.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. As a group, analysts expect that FirstEnergy Corp. will post 2.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Monday, May 6th. FirstEnergy’s payout ratio is 58.69%.

In related news, EVP Leila L. Vespoli sold 24,400 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $41.33, for a total transaction of $1,008,452.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.

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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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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