Schroder Investment Management Group lessened its stake in shares of FirstEnergy Corp. (NYSE:FE) by 18.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,214 shares of the utilities provider’s stock after selling 52,595 shares during the quarter. Schroder Investment Management Group owned about 0.05% of FirstEnergy worth $7,043,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its holdings in FirstEnergy by 22.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock worth $106,000 after buying an additional 658 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in FirstEnergy by 2,045.8% during the second quarter. Archford Capital Strategies LLC now owns 4,077 shares of the utilities provider’s stock worth $262,000 after buying an additional 3,887 shares in the last quarter. Sandy Spring Bank boosted its holdings in FirstEnergy by 1.3% during the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after buying an additional 66 shares in the last quarter. Accurate Investment Solutions Inc. boosted its holdings in FirstEnergy by 767.8% during the third quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock worth $170,000 after buying an additional 4,860 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in FirstEnergy by 32.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,755 shares of the utilities provider’s stock worth $168,000 after buying an additional 1,394 shares in the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.
A number of analysts recently weighed in on FE shares. Evercore ISI upgraded shares of FirstEnergy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $35.00 in a report on Monday, August 14th. Morgan Stanley raised their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Monday, September 11th. ValuEngine lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co set a $34.00 price objective on shares of FirstEnergy and gave the stock a “hold” rating in a research note on Thursday, October 12th. 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 company currently has an average rating of “Hold” and an average price target of $34.39.
FirstEnergy Corp. (NYSE FE) opened at $32.83 on Friday. The company has a market cap of $14,604.69, a P/E ratio of 12.03 and a beta of 0.25. FirstEnergy Corp. has a 52 week low of $27.93 and a 52 week high of $35.22. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56.
FirstEnergy (NYSE:FE) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.72 billion. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. During the same quarter last year, the business posted $0.90 EPS. analysts forecast that FirstEnergy Corp. will post 3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is currently -12.31%.
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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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