Kapitalo Investimentos Ltda Acquires Shares of 6,038 FirstEnergy Corp. (NYSE:FE)

Kapitalo Investimentos Ltda acquired a new stake in shares of FirstEnergy Corp. (NYSE:FEFree Report) during the fourth quarter, Holdings Channel reports. The fund acquired 6,038 shares of the utilities provider’s stock, valued at approximately $221,000.

Other large investors have also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC increased its holdings in shares of FirstEnergy by 1.0% in the 4th quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock worth $1,358,000 after acquiring an additional 376 shares during the period. Duality Advisers LP acquired a new position in FirstEnergy during the 4th quarter valued at about $1,644,000. Citigroup Inc. increased its stake in FirstEnergy by 27.3% during the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock valued at $34,810,000 after buying an additional 218,439 shares during the period. Lumbard & Kellner LLC acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $2,418,000. Finally, First Pacific Advisors LP grew its stake in shares of FirstEnergy by 1.3% in the 4th quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock worth $127,623,000 after purchasing an additional 45,350 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FE. Morgan Stanley lifted their price objective on shares of FirstEnergy from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price for the company. Bank of America raised their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. Scotiabank decreased their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Mizuho raised their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, FirstEnergy has an average rating of “Hold” and a consensus price target of $40.27.

Check Out Our Latest Research Report on FirstEnergy

FirstEnergy Stock Down 0.3 %

FE traded down $0.11 during midday trading on Tuesday, hitting $38.13. 262,846 shares of the company’s stock traded hands, compared to its average volume of 3,039,695. The company has a market cap of $21.94 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 2.46 and a beta of 0.50. The stock’s fifty day simple moving average is $38.92 and its 200-day simple moving average is $37.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $40.65.

FirstEnergy (NYSE:FEGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. As a group, equities analysts anticipate that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were given a $0.425 dividend. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date was Monday, May 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.46%. FirstEnergy’s dividend payout ratio (DPR) is currently 97.70%.

FirstEnergy Profile

(Free Report)

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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