Swiss National Bank increased its position in shares of FirstEnergy Corp. (NYSE:FE) by 0.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,636,981 shares of the utilities provider’s stock after buying an additional 3,200 shares during the quarter. Swiss National Bank owned about 0.37% of FirstEnergy worth $50,124,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC purchased a new position in FirstEnergy during the 4th quarter worth approximately $122,000. Accurate Investment Solutions Inc. grew its stake in FirstEnergy by 767.8% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock worth $170,000 after buying an additional 4,860 shares during the last quarter. Tiedemann Wealth Management LLC grew its stake in FirstEnergy by 170.5% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock worth $171,000 after buying an additional 14,123 shares during the last quarter. IBM Retirement Fund purchased a new position in FirstEnergy during the 3rd quarter worth approximately $204,000. Finally, Cubist Systematic Strategies LLC purchased a new position in FirstEnergy during the 2nd quarter worth approximately $215,000. Hedge funds and other institutional investors own 83.24% of the company’s stock.
A number of research analysts recently issued reports on FE shares. Guggenheim restated a “buy” rating and set a $47.00 price target on shares of FirstEnergy in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, January 2nd. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Bank of America upgraded FirstEnergy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.09 to $36.00 in a research note on Friday, January 26th. Finally, UBS Group started coverage on FirstEnergy in a research note on Friday, February 2nd. They set a “buy” rating and a $39.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. FirstEnergy currently has a consensus rating of “Buy” and an average price target of $35.33.
FirstEnergy Corp. (NYSE FE) opened at $32.79 on Friday. FirstEnergy Corp. has a 12 month low of $27.93 and a 12 month high of $35.22. The firm has a market capitalization of $14,213.21, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 12.46 and a beta of 0.35. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.39%. FirstEnergy’s dividend payout ratio (DPR) is currently -12.31%.
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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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