Huber Capital Management LLC reduced its position in FirstEnergy Corp. (NYSE:FE) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,318 shares of the utilities provider’s stock after selling 1,300 shares during the period. Huber Capital Management LLC’s holdings in FirstEnergy were worth $1,127,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in FE. PointState Capital LP increased its position in shares of FirstEnergy by 76,111.3% in the second quarter. PointState Capital LP now owns 5,464,351 shares of the utilities provider’s stock worth $196,225,000 after acquiring an additional 5,457,181 shares in the last quarter. Wells Fargo & Company MN grew its position in FirstEnergy by 290.3% during the third quarter. Wells Fargo & Company MN now owns 4,304,504 shares of the utilities provider’s stock valued at $159,998,000 after purchasing an additional 3,201,774 shares in the last quarter. Renaissance Technologies LLC grew its position in FirstEnergy by 23.1% during the second quarter. Renaissance Technologies LLC now owns 12,007,408 shares of the utilities provider’s stock valued at $431,186,000 after purchasing an additional 2,251,708 shares in the last quarter. Millennium Management LLC grew its position in FirstEnergy by 52.3% during the second quarter. Millennium Management LLC now owns 4,695,998 shares of the utilities provider’s stock valued at $168,633,000 after purchasing an additional 1,613,516 shares in the last quarter. Finally, BlackRock Inc. grew its position in FirstEnergy by 2.4% during the third quarter. BlackRock Inc. now owns 58,738,683 shares of the utilities provider’s stock valued at $2,183,318,000 after purchasing an additional 1,352,890 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on FE shares. Morgan Stanley lowered their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, September 21st. Wells Fargo & Co reaffirmed a “buy” rating and set a $42.00 price objective (up from $41.00) on shares of FirstEnergy in a research report on Monday, September 17th. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Bank of America boosted their price objective on shares of FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 29th. Finally, Barclays boosted their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $40.00.
FE stock opened at $38.55 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 2.44. FirstEnergy Corp. has a 12 month low of $29.33 and a 12 month high of $39.38. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.52 and a beta of 0.30.
FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.82 billion. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. On average, equities research analysts predict that FirstEnergy Corp. will post 2.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 7th will be paid a dividend of $0.38 per share. This is a boost from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio is presently 46.91%.
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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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