Toronto Dominion Bank increased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 9.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 358,965 shares of the utilities provider’s stock after purchasing an additional 30,250 shares during the period. Toronto Dominion Bank owned 0.07% of FirstEnergy worth $15,363,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pearl River Capital LLC bought a new position in shares of FirstEnergy during the second quarter valued at approximately $25,000. Clean Yield Group boosted its stake in shares of FirstEnergy by 1,184.0% during the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 592 shares in the last quarter. Horan Securities Inc. bought a new position in shares of FirstEnergy during the second quarter valued at approximately $28,000. Meeder Asset Management Inc. boosted its stake in shares of FirstEnergy by 805.3% during the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 604 shares in the last quarter. Finally, Zions Bancorporation N.A. bought a new position in shares of FirstEnergy during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.
NYSE:FE traded down $0.26 during midday trading on Friday, reaching $47.37. 2,166,177 shares of the stock traded hands, compared to its average volume of 3,790,839. FirstEnergy Corp. has a 12-month low of $35.33 and a 12-month high of $48.10. The business has a 50-day moving average of $45.08 and a two-hundred day moving average of $42.83. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.53 and a current ratio of 0.60. The stock has a market capitalization of $25.70 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 3.17 and a beta of 0.21.
FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. FirstEnergy’s revenue for the quarter was down 3.8% compared to the same quarter last year. Research analysts anticipate that FirstEnergy Corp. will post 2.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.38 per share. The ex-dividend date was Tuesday, August 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.21%. FirstEnergy’s payout ratio is 58.69%.
FE has been the topic of a number of recent research reports. Mizuho decreased their target price on shares of FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. TheStreet cut shares of FirstEnergy from a “b” rating to a “f” rating in a research report on Thursday, July 18th. KeyCorp reissued an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a research report on Wednesday, June 5th. Finally, Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. FirstEnergy has an average rating of “Buy” and a consensus target price of $44.00.
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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