Krilogy Financial LLC boosted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 846.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,234 shares of the utilities provider’s stock after purchasing an additional 10,941 shares during the quarter. Krilogy Financial LLC’s holdings in FirstEnergy were worth $377,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Federated Investors Inc. PA increased its holdings in shares of FirstEnergy by 21.7% in the 2nd quarter. Federated Investors Inc. PA now owns 80,711 shares of the utilities provider’s stock valued at $2,354,000 after acquiring an additional 14,381 shares during the last quarter. Swiss National Bank grew its stake in FirstEnergy by 6.9% during the 2nd quarter. Swiss National Bank now owns 1,612,181 shares of the utilities provider’s stock worth $47,011,000 after buying an additional 103,600 shares during the last quarter. P Schoenfeld Asset Management LP purchased a new position in FirstEnergy during the 2nd quarter worth approximately $11,708,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in FirstEnergy by 3.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,256,711 shares of the utilities provider’s stock worth $36,646,000 after buying an additional 44,965 shares during the last quarter. Finally, Sii Investments Inc. WI purchased a new position in FirstEnergy during the 2nd quarter worth approximately $582,000. Institutional investors own 82.70% of the company’s stock.
Shares of FirstEnergy Corp. (NYSE:FE) opened at $32.83 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market capitalization of $14,604.69, a P/E ratio of 12.03 and a beta of 0.25. FirstEnergy Corp. has a 1-year low of $27.93 and a 1-year high of $35.22.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.86 by $0.11. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period last year, the firm earned $0.90 EPS. sell-side analysts anticipate that FirstEnergy Corp. will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.39%. FirstEnergy’s dividend payout ratio is currently -12.31%.
A number of research analysts recently issued reports on the company. Bank of America assumed coverage on FirstEnergy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $34.00 price target on the stock. Evercore ISI upgraded FirstEnergy from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $30.00 to $35.00 in a research note on Monday, August 14th. Zacks Investment Research downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Morgan Stanley raised their price target on FirstEnergy from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. FirstEnergy has a consensus rating of “Hold” and an average target price of $34.39.
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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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