FirstEnergy Corp. (NYSE:FE) Holdings Reduced by Cypress Capital Management LLC

Cypress Capital Management LLC decreased its position in FirstEnergy Corp. (NYSE:FE) by 11.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 210,967 shares of the utilities provider’s stock after selling 27,500 shares during the period. Cypress Capital Management LLC’s holdings in FirstEnergy were worth $7,318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FE. Parallel Advisors LLC grew its position in FirstEnergy by 152.6% in the 1st quarter. Parallel Advisors LLC now owns 778 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 470 shares during the last quarter. Curi Capital bought a new position in shares of FirstEnergy in the fourth quarter valued at approximately $30,000. Regent Peak Wealth Advisors LLC bought a new position in shares of FirstEnergy in the fourth quarter valued at approximately $33,000. Focused Wealth Management Inc boosted its holdings in shares of FirstEnergy by 87.1% in the first quarter. Focused Wealth Management Inc now owns 960 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 447 shares in the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in shares of FirstEnergy in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

FE stock remained flat at $$38.63 on Friday. 25,066 shares of the company traded hands, compared to its average volume of 4,078,407. FirstEnergy Corp. has a fifty-two week low of $22.85 and a fifty-two week high of $42.35. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 15.58 and a beta of 0.24. The business has a fifty day moving average price of $37.02. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 3.02.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, April 21st. The utilities provider reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. FirstEnergy had a net margin of 12.40% and a return on equity of 18.17%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities analysts anticipate that FirstEnergy Corp. will post 2.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 7th were given a $0.39 dividend. The ex-dividend date was Thursday, May 6th. This represents a $1.56 annualized dividend and a dividend yield of 4.04%. FirstEnergy’s dividend payout ratio (DPR) is presently 65.27%.

FE has been the subject of several recent analyst reports. Barclays increased their price objective on shares of FirstEnergy from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 25th. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating in a report on Monday, March 15th. Morgan Stanley increased their price objective on shares of FirstEnergy from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, May 18th. Finally, Mizuho increased their price objective on shares of FirstEnergy from $32.00 to $33.00 in a report on Friday, February 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. FirstEnergy presently has a consensus rating of “Hold” and an average price target of $38.90.

FirstEnergy Company Profile

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 operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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