Ancora Advisors LLC purchased a new position in FirstEnergy Corp. (NYSE:FE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,525 shares of the utilities provider’s stock, valued at approximately $168,000.
A number of other large investors have also recently made changes to their positions in the business. Banco de Sabadell S.A boosted its holdings in FirstEnergy by 0.9% in the second quarter. Banco de Sabadell S.A now owns 152,375 shares of the utilities provider’s stock worth $5,493,000 after acquiring an additional 1,401 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of FirstEnergy by 6.8% in the third quarter. Synovus Financial Corp now owns 22,477 shares of the utilities provider’s stock valued at $832,000 after purchasing an additional 1,434 shares in the last quarter. Ffcm LLC lifted its holdings in shares of FirstEnergy by 9.3% in the third quarter. Ffcm LLC now owns 17,431 shares of the utilities provider’s stock valued at $648,000 after purchasing an additional 1,486 shares in the last quarter. Bank of Hawaii lifted its holdings in shares of FirstEnergy by 10.3% in the third quarter. Bank of Hawaii now owns 16,940 shares of the utilities provider’s stock valued at $630,000 after purchasing an additional 1,575 shares in the last quarter. Finally, World Asset Management Inc lifted its holdings in shares of FirstEnergy by 5.3% in the third quarter. World Asset Management Inc now owns 31,834 shares of the utilities provider’s stock valued at $1,183,000 after purchasing an additional 1,616 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.
A number of research analysts have recently weighed in on the company. Barclays raised their target price on FirstEnergy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Monday, November 19th. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, October 10th. Morgan Stanley raised their target price on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $42.00 target price (up previously from $41.00) on shares of FirstEnergy in a report on Monday, September 17th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. FirstEnergy presently has an average rating of “Buy” and an average target price of $40.00.
Shares of FirstEnergy stock opened at $39.08 on Friday. The firm has a market cap of $19.72 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 2.52 and a beta of 0.30. FirstEnergy Corp. has a 12 month low of $29.33 and a 12 month high of $39.38. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.41 and a current ratio of 0.45.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.82 billion. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. Research analysts anticipate that FirstEnergy Corp. will post 2.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 7th will be issued a dividend of $0.38 per share. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.
COPYRIGHT VIOLATION WARNING: “4,525 Shares in FirstEnergy Corp. (FE) Acquired by Ancora Advisors LLC” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/12/07/4525-shares-in-firstenergy-corp-fe-acquired-by-ancora-advisors-llc.html.
FirstEnergy Company Profile
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.
See Also: Trading Strategy Methods and Types
Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE).
Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.