Quantitative Systematic Strategies LLC grew its stake in FirstEnergy Corp. (NYSE:FE) by 38.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,472 shares of the utilities provider’s stock after buying an additional 35,002 shares during the period. FirstEnergy makes up about 1.0% of Quantitative Systematic Strategies LLC’s holdings, making the stock its 10th biggest holding. Quantitative Systematic Strategies LLC’s holdings in FirstEnergy were worth $5,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in FE. Hartford Investment Management Co. raised its holdings in FirstEnergy by 0.6% during the 2nd quarter. Hartford Investment Management Co. now owns 58,313 shares of the utilities provider’s stock valued at $2,496,000 after buying an additional 370 shares during the last quarter. Horan Securities Inc. bought a new stake in FirstEnergy during the 2nd quarter valued at $28,000. Carnegie Capital Asset Management LLC raised its holdings in FirstEnergy by 17.1% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 11,987 shares of the utilities provider’s stock valued at $513,000 after buying an additional 1,750 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in FirstEnergy by 6.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 21,223 shares of the utilities provider’s stock valued at $909,000 after buying an additional 1,300 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in FirstEnergy by 13.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,579 shares of the utilities provider’s stock valued at $282,000 after buying an additional 762 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.
In other news, Director Christopher D. Pappas bought 3,000 shares of FirstEnergy stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $41.14 per share, for a total transaction of $123,420.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.
FE has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price target for the company. in a report on Tuesday, July 2nd. KeyCorp restated an “overweight” rating and issued a $46.00 price objective on shares of FirstEnergy in a report on Wednesday, June 5th. Finally, TheStreet downgraded shares of FirstEnergy from a “b” rating to a “f” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. FirstEnergy currently has an average rating of “Buy” and an average price target of $43.71.
Shares of NYSE:FE traded down $0.67 on Monday, hitting $43.58. 203,917 shares of the company’s stock were exchanged, compared to its average volume of 3,937,322. FirstEnergy Corp. has a 12 month low of $35.33 and a 12 month high of $44.75. The company has a market capitalization of $23.55 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.95 and a beta of 0.27. The stock’s 50 day simple moving average is $43.60. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53.
FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.66 billion. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. On average, research analysts anticipate that FirstEnergy Corp. will post 2.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.49%. FirstEnergy’s payout ratio is currently 58.69%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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