Dupont Capital Management Corp decreased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 6.2% during the 3rd quarter, Holdings Channel reports. The firm owned 125,100 shares of the utilities provider’s stock after selling 8,318 shares during the period. Dupont Capital Management Corp’s holdings in FirstEnergy were worth $4,650,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Reilly Financial Advisors LLC increased its stake in shares of FirstEnergy by 285.8% during the 2nd quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 2,132 shares during the last quarter. Winslow Evans & Crocker Inc. acquired a new position in FirstEnergy in the 3rd quarter valued at $114,000. Valeo Financial Advisors LLC grew its stake in FirstEnergy by 104.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,759 shares of the utilities provider’s stock valued at $140,000 after buying an additional 1,920 shares during the last quarter. IMA Wealth Inc. acquired a new position in FirstEnergy in the 2nd quarter valued at $180,000. Finally, Piedmont Investment Advisors LLC acquired a new position in FirstEnergy in the 2nd quarter valued at $189,000. Institutional investors own 89.79% of the company’s stock.
NYSE:FE opened at $38.00 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 2.44. FirstEnergy Corp. has a 1 year low of $29.33 and a 1 year high of $39.01. The firm has a market capitalization of $19.28 billion, a P/E ratio of 13.46, a PEG ratio of 2.47 and a beta of 0.24.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.82 billion. Research analysts forecast that FirstEnergy Corp. will post 2.54 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.
FE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, October 10th. Wells Fargo & Co reiterated a “buy” rating and issued a $42.00 target price (up from $41.00) on shares of FirstEnergy in a research note on Monday, September 17th. Bank of America raised their target price on shares of FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Citigroup raised their target price on shares of FirstEnergy from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. Finally, ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $39.90.
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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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