Gyroscope Capital Management Group LLC reduced its position in FirstEnergy Corp. (NYSE:FE) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 174,990 shares of the utilities provider’s stock after selling 13,262 shares during the quarter. FirstEnergy makes up about 3.3% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 6th largest position. Gyroscope Capital Management Group LLC’s holdings in FirstEnergy were worth $8,354,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of FirstEnergy by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 65,113,979 shares of the utilities provider’s stock valued at $2,787,529,000 after purchasing an additional 783,467 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in FirstEnergy by 2,004.3% during the second quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock worth $627,531,000 after acquiring an additional 13,961,923 shares in the last quarter. Invesco Ltd. boosted its stake in FirstEnergy by 4.6% during the second quarter. Invesco Ltd. now owns 10,868,330 shares of the utilities provider’s stock worth $465,274,000 after acquiring an additional 479,046 shares in the last quarter. Northern Trust Corp boosted its stake in FirstEnergy by 1.0% during the second quarter. Northern Trust Corp now owns 6,396,594 shares of the utilities provider’s stock worth $273,838,000 after acquiring an additional 62,001 shares in the last quarter. Finally, Luminus Management LLC boosted its stake in FirstEnergy by 0.4% during the second quarter. Luminus Management LLC now owns 4,555,516 shares of the utilities provider’s stock worth $195,022,000 after acquiring an additional 17,863 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.
NYSE FE traded up $0.14 on Friday, hitting $48.04. 141,922 shares of the company were exchanged, compared to its average volume of 3,735,572. The company has a market cap of $25.71 billion, a PE ratio of 18.56, a PEG ratio of 3.17 and a beta of 0.21. FirstEnergy Corp. has a 12 month low of $35.33 and a 12 month high of $49.07. The stock has a fifty day moving average of $47.11 and a 200-day moving average of $43.77. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 2.63.
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, topping the Thomson Reuters’ 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 firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. On average, analysts expect that FirstEnergy Corp. will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.52 annualized dividend and a yield of 3.16%. FirstEnergy’s payout ratio is 58.69%.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price on the stock. in a research note on Tuesday, July 2nd. TheStreet lowered shares of FirstEnergy from a “b” rating to a “f” rating in a research note on Thursday, July 18th. Finally, Mizuho lowered shares of FirstEnergy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $48.00 to $48.50 in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.92.
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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