Commonwealth Equity Services Inc lifted its position in FirstEnergy Corporation (NYSE:FE) by 28.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,293 shares of the utilities provider’s stock after acquiring an additional 25,351 shares during the period. Commonwealth Equity Services Inc’s holdings in FirstEnergy Corporation were worth $3,492,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in FE. Advisors Asset Management Inc. increased its position in FirstEnergy Corporation by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 835,061 shares of the utilities provider’s stock valued at $25,745,000 after buying an additional 4,788 shares in the last quarter. Quantbot Technologies LP increased its position in FirstEnergy Corporation by 95.6% during the 3rd quarter. Quantbot Technologies LP now owns 82,628 shares of the utilities provider’s stock valued at $2,547,000 after buying an additional 40,386 shares in the last quarter. IBM Retirement Fund bought a new position in FirstEnergy Corporation during the 3rd quarter valued at approximately $204,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in FirstEnergy Corporation by 3.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,302,369 shares of the utilities provider’s stock valued at $40,152,000 after buying an additional 45,658 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in FirstEnergy Corporation by 49.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 94,246 shares of the utilities provider’s stock valued at $2,906,000 after buying an additional 31,045 shares in the last quarter. 81.59% of the stock is owned by hedge funds and other institutional investors.
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A number of research analysts recently weighed in on the company. Deutsche Bank AG reaffirmed a “hold” rating and set a $34.00 price objective (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. BidaskClub raised FirstEnergy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Finally, Evercore ISI raised FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $35.00 in a report on Monday, August 14th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $34.39.
FirstEnergy Corporation (NYSE FE) traded down $0.10 during mid-day trading on Tuesday, hitting $34.55. The stock had a trading volume of 3,078,000 shares, compared to its average volume of 4,248,898. The stock has a market cap of $15,410.00, a P/E ratio of 12.69 and a beta of 0.24. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $35.22. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 3.29.
FirstEnergy Corporation (NYSE:FE) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.11. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period last year, the business posted $0.90 EPS. sell-side analysts expect that FirstEnergy Corporation will post 3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.17%. FirstEnergy Corporation’s dividend payout ratio (DPR) is currently -12.23%.
FirstEnergy Corporation Company 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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