Chartwell Investment Partners LLC lowered its holdings in FirstEnergy Corporation (NYSE:FE) by 55.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,935 shares of the utilities provider’s stock after selling 365,785 shares during the period. Chartwell Investment Partners LLC owned approximately 0.06% of FirstEnergy worth $8,907,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of FirstEnergy in the third quarter worth $853,000. Spectrum Management Group Inc. acquired a new stake in FirstEnergy during the 3rd quarter valued at $302,000. Ameriprise Financial Inc. grew its holdings in FirstEnergy by 13.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 178,334 shares of the utilities provider’s stock valued at $5,497,000 after purchasing an additional 20,584 shares in the last quarter. Commonwealth Equity Services Inc grew its holdings in FirstEnergy by 28.8% during the 3rd quarter. Commonwealth Equity Services Inc now owns 113,293 shares of the utilities provider’s stock valued at $3,492,000 after purchasing an additional 25,351 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in FirstEnergy by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 835,061 shares of the utilities provider’s stock valued at $25,745,000 after purchasing an additional 4,788 shares in the last quarter. 82.70% of the stock is owned by institutional investors.
FirstEnergy Corporation (NYSE FE) traded up $0.35 during trading on Thursday, hitting $32.72. 4,848,963 shares of the stock traded hands, compared to its average volume of 4,264,624. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. The stock has a market capitalization of $14,391.15, a P/E ratio of 11.85 and a beta of 0.25. FirstEnergy Corporation has a 1-year low of $27.93 and a 1-year high of $35.22.
FirstEnergy (NYSE:FE) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.11. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $0.90 earnings per share. research analysts predict that FirstEnergy Corporation will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.40%. The ex-dividend date was Monday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is presently -12.31%.
A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Zacks Investment Research lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of FirstEnergy in a research report on Friday, October 20th. Evercore ISI upgraded shares of FirstEnergy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $35.00 in a research report on Monday, August 14th. Finally, Bank of America initiated coverage on shares of FirstEnergy in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.39.
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FirstEnergy Company Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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