FirstEnergy Corporation (NYSE:FE) Increases Dividend to $0.47 Per Share

FirstEnergy Corporation (NYSE:FE) declared a quarterly dividend on Wednesday, February 11th. Investors of record on Thursday, May 7th will be paid a dividend of 0.465 per share by the utilities provider on Monday, June 1st. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, May 7th. This is a 4.5% increase from FirstEnergy’s previous quarterly dividend of $0.45.

FirstEnergy has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 3 years. FirstEnergy has a dividend payout ratio of 65.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect FirstEnergy to earn $2.89 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 61.6%.

FirstEnergy Stock Performance

NYSE FE opened at $48.43 on Thursday. The company has a market cap of $27.98 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.72 and a beta of 0.64. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $45.69 and its 200-day simple moving average is $45.23. FirstEnergy has a 1-year low of $37.58 and a 1-year high of $48.71.

Institutional Trading of FirstEnergy

Several large investors have recently modified their holdings of FE. Andra AP fonden raised its position in shares of FirstEnergy by 144.2% in the 4th quarter. Andra AP fonden now owns 71,813 shares of the utilities provider’s stock valued at $3,215,000 after buying an additional 42,403 shares in the last quarter. Colonial Trust Co SC lifted its stake in FirstEnergy by 29.9% during the fourth quarter. Colonial Trust Co SC now owns 1,383 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 318 shares during the last quarter. Xponance LLC boosted its holdings in shares of FirstEnergy by 4.1% in the 4th quarter. Xponance LLC now owns 92,127 shares of the utilities provider’s stock valued at $4,125,000 after purchasing an additional 3,664 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of FirstEnergy by 0.3% in the 4th quarter. IFM Investors Pty Ltd now owns 159,464 shares of the utilities provider’s stock valued at $7,139,000 after purchasing an additional 401 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of FirstEnergy by 89.7% during the 4th quarter. Meeder Asset Management Inc. now owns 6,996 shares of the utilities provider’s stock worth $313,000 after buying an additional 3,308 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid?Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.