American International Group Inc. trimmed its holdings in shares of FirstEnergy (NYSE:FE) by 3.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 197,498 shares of the utilities provider’s stock after selling 6,512 shares during the period. American International Group Inc.’s holdings in FirstEnergy were worth $6,717,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new position in FirstEnergy during the 4th quarter valued at about $122,000. Tower Research Capital LLC TRC lifted its holdings in FirstEnergy by 344.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 3,714 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in FirstEnergy during the 4th quarter valued at about $228,000. Farmers Trust Co. bought a new position in FirstEnergy during the 4th quarter valued at about $251,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in FirstEnergy by 352.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,673 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 6,756 shares during the last quarter. 94.80% of the stock is owned by institutional investors.
FE opened at $33.85 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 2.31 and a beta of 0.24. FirstEnergy has a 1-year low of $28.41 and a 1-year high of $35.56.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a negative net margin of 5.33% and a positive return on equity of 22.52%. The company’s revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. equities research analysts forecast that FirstEnergy will post 2.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, May 4th. FirstEnergy’s dividend payout ratio is 46.91%.
FE has been the subject of several analyst reports. Wolfe Research raised shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.09 to $36.00 in a report on Friday, January 26th. Morgan Stanley set a $35.00 price target on shares of FirstEnergy and gave the company a “buy” rating in a report on Thursday, March 8th. Wells Fargo & Co raised shares of FirstEnergy from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $27.93 to $34.30 in a report on Monday, April 30th. Finally, UBS initiated coverage on shares of FirstEnergy in a report on Friday, February 2nd. They set a “buy” rating and a $39.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $35.52.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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