Sei Investments Co. lifted its stake in FirstEnergy Corp. (NYSE:FE) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 115,813 shares of the utilities provider’s stock after buying an additional 14,896 shares during the period. Sei Investments Co.’s holdings in FirstEnergy were worth $3,546,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norinchukin Bank The grew its stake in shares of FirstEnergy by 4.6% during the third quarter. Norinchukin Bank The now owns 37,971 shares of the utilities provider’s stock valued at $1,171,000 after purchasing an additional 1,678 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of FirstEnergy by 2.4% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 73,131 shares of the utilities provider’s stock valued at $2,255,000 after purchasing an additional 1,700 shares during the last quarter. Strs Ohio grew its stake in shares of FirstEnergy by 3.6% during the fourth quarter. Strs Ohio now owns 50,821 shares of the utilities provider’s stock valued at $1,556,000 after purchasing an additional 1,746 shares during the last quarter. Comerica Bank boosted its stake in FirstEnergy by 1.7% in the third quarter. Comerica Bank now owns 112,019 shares of the utilities provider’s stock valued at $3,660,000 after acquiring an additional 1,820 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in FirstEnergy by 4.5% in the third quarter. CIBC Asset Management Inc now owns 48,606 shares of the utilities provider’s stock valued at $1,499,000 after acquiring an additional 2,102 shares during the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.
A number of equities research analysts recently commented on the stock. ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of 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. Guggenheim restated a “buy” rating and set a $47.00 price objective on shares of FirstEnergy in a research note on Wednesday, January 3rd. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $32.09 to $36.00 in a research note on Friday, January 26th. Finally, Wolfe Research raised shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.29.
FirstEnergy Corp. (NYSE FE) traded up $0.43 during trading on Wednesday, hitting $33.42. 6,060,000 shares of the company’s stock were exchanged, compared to its average volume of 7,460,000. The company has a market capitalization of $15,890.00, a price-to-earnings ratio of -8.64, a price-to-earnings-growth ratio of 13.69 and a beta of 0.34. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.76 and a quick ratio of 0.65. FirstEnergy Corp. has a 12-month low of $27.93 and a 12-month high of $35.22.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. FirstEnergy had a negative net margin of 12.30% and a positive return on equity of 24.02%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. sell-side analysts forecast that FirstEnergy Corp. will post 2.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th were given a $0.36 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.31%. FirstEnergy’s dividend payout ratio (DPR) is currently -37.21%.
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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