IFP Advisors Inc cut its holdings in FirstEnergy Corp. (NYSE:FE) by 79.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,560 shares of the utilities provider’s stock after selling 29,187 shares during the quarter. IFP Advisors Inc’s holdings in FirstEnergy were worth $231,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FE. NWQ Investment Management Company LLC acquired a new position in FirstEnergy in the 3rd quarter valued at $70,441,000. Brookfield Asset Management Inc. grew its holdings in FirstEnergy by 3,345.0% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,829,980 shares of the utilities provider’s stock valued at $53,362,000 after buying an additional 1,776,860 shares in the last quarter. AXA grew its holdings in FirstEnergy by 7,554.9% in the 3rd quarter. AXA now owns 1,030,430 shares of the utilities provider’s stock valued at $31,768,000 after buying an additional 1,016,969 shares in the last quarter. American Century Companies Inc. grew its holdings in FirstEnergy by 34.9% in the 3rd quarter. American Century Companies Inc. now owns 3,144,787 shares of the utilities provider’s stock valued at $96,954,000 after buying an additional 813,967 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in FirstEnergy by 76.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,774,283 shares of the utilities provider’s stock valued at $54,701,000 after buying an additional 771,348 shares in the last quarter. 83.24% of the stock is owned by hedge funds and other institutional investors.
FirstEnergy Corp. (NYSE FE) traded up $0.08 during trading hours on Wednesday, hitting $32.18. The company had a trading volume of 3,727,722 shares, compared to its average volume of 9,191,954. 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 Corp. has a 12 month low of $27.93 and a 12 month high of $35.22. The company has a market cap of $14,320.00, a price-to-earnings ratio of -2.73, a price-to-earnings-growth ratio of 12.28 and a beta of 0.35.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.47%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s payout ratio is -12.23%.
Several research firms recently weighed in on FE. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. UBS Group started coverage on FirstEnergy in a research report on Friday, February 2nd. They set a “buy” rating and a $39.00 price objective for the company. Zacks Investment Research upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. KeyCorp restated a “hold” rating on shares of FirstEnergy in a research report on Friday, October 20th. Finally, Citigroup lowered their target price on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, January 30th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. FirstEnergy has an average rating of “Buy” and a consensus price target of $35.33.
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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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