First Trust Advisors LP decreased its position in shares of FirstEnergy Corporation (NYSE:FE) by 7.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,424 shares of the utilities provider’s stock after selling 19,017 shares during the period. First Trust Advisors LP owned approximately 0.06% of FirstEnergy Corporation worth $7,659,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Bank grew its stake in shares of FirstEnergy Corporation by 0.3% during the second quarter. Washington Trust Bank now owns 13,570 shares of the utilities provider’s stock valued at $396,000 after buying an additional 36 shares during the last quarter. Sandy Spring Bank grew its stake in shares of FirstEnergy Corporation by 1.3% during the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after buying an additional 66 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of FirstEnergy Corporation by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,967 shares of the utilities provider’s stock valued at $961,000 after buying an additional 145 shares during the last quarter. Sentry Investment Management LLC grew its stake in shares of FirstEnergy Corporation by 0.5% during the second quarter. Sentry Investment Management LLC now owns 35,060 shares of the utilities provider’s stock valued at $1,022,000 after buying an additional 185 shares during the last quarter. Finally, Norinchukin Bank The grew its stake in shares of FirstEnergy Corporation by 0.7% during the second quarter. Norinchukin Bank The now owns 36,293 shares of the utilities provider’s stock valued at $1,058,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 79.23% of the company’s stock.
Shares of FirstEnergy Corporation (FE) opened at $34.21 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. FirstEnergy Corporation has a 1-year low of $27.93 and a 1-year high of $34.50. The company has a market cap of $15,071.79, a PE ratio of 12.41 and a beta of 0.24.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.11. FirstEnergy Corporation had a negative net margin of 35.99% and a positive return on equity of 19.29%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business posted $0.90 earnings per share. equities analysts anticipate that FirstEnergy Corporation will post 3.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.44 annualized dividend and a yield of 4.21%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
A number of brokerages have recently issued reports on FE. Mizuho reaffirmed a “hold” rating and set a $30.50 price objective on shares of FirstEnergy Corporation in a research note on Tuesday, October 24th. Bank of America Corporation began coverage on FirstEnergy Corporation in a research note on Tuesday, October 24th. They set a “neutral” rating and a $34.00 price objective on the stock. KeyCorp reaffirmed a “hold” rating on shares of FirstEnergy Corporation in a research note on Friday, October 20th. Citigroup Inc. raised their price objective on FirstEnergy Corporation from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, October 17th. Finally, Deutsche Bank AG raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.39.
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FirstEnergy Corporation Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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