Nisa Investment Advisors LLC boosted its position in shares of FirstEnergy Corp. (NYSE:FE) by 26.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,836 shares of the utilities provider’s stock after purchasing an additional 7,020 shares during the period. Nisa Investment Advisors LLC’s holdings in FirstEnergy were worth $1,036,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FE. Accurate Investment Solutions Inc. grew its holdings in FirstEnergy by 767.8% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock worth $170,000 after acquiring an additional 4,860 shares in the last quarter. Tiedemann Wealth Management LLC grew its holdings in FirstEnergy by 170.5% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock worth $171,000 after acquiring an additional 14,123 shares in the last quarter. IBM Retirement Fund acquired a new position in FirstEnergy during the 3rd quarter worth $204,000. Cubist Systematic Strategies LLC acquired a new position in FirstEnergy during the 2nd quarter worth $215,000. Finally, National Asset Management Inc. grew its holdings in FirstEnergy by 4.8% during the 2nd quarter. National Asset Management Inc. now owns 8,245 shares of the utilities provider’s stock worth $242,000 after acquiring an additional 379 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.
FE has been the subject of several research reports. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. KeyCorp reiterated a “hold” rating on shares of FirstEnergy in a research report on Friday, October 20th. Bank of America assumed coverage on shares of FirstEnergy in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 price objective on the stock. Citigroup lifted their price objective on shares of FirstEnergy from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Finally, Deutsche Bank upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $35.32.
Shares of FirstEnergy Corp. (FE) opened at $32.45 on Tuesday. FirstEnergy Corp. has a 52-week low of $27.93 and a 52-week high of $35.22. The company has a market cap of $14,440.00, a PE ratio of -2.76 and a beta of 0.25. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69.
FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm earned $0.90 EPS. sell-side analysts anticipate that FirstEnergy Corp. will post 3.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.44%. FirstEnergy’s dividend payout ratio (DPR) is -12.23%.
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FirstEnergy 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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