Stifel Financial Corp lifted its holdings in FirstEnergy Corp. (NYSE:FE) by 19.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,310 shares of the utilities provider’s stock after buying an additional 18,488 shares during the quarter. Stifel Financial Corp’s holdings in FirstEnergy were worth $4,356,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. State Street Corp raised its holdings in shares of FirstEnergy by 0.8% in the first quarter. State Street Corp now owns 39,937,203 shares of the utilities provider’s stock worth $1,600,284,000 after acquiring an additional 297,321 shares during the last quarter. Pictet Asset Management Ltd. raised its holdings in shares of FirstEnergy by 86.8% in the first quarter. Pictet Asset Management Ltd. now owns 10,344,390 shares of the utilities provider’s stock worth $414,500,000 after acquiring an additional 4,806,716 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of FirstEnergy by 0.4% in the first quarter. Geode Capital Management LLC now owns 8,597,254 shares of the utilities provider’s stock worth $343,836,000 after acquiring an additional 31,896 shares during the last quarter. FMR LLC raised its holdings in shares of FirstEnergy by 3.6% in the second quarter. FMR LLC now owns 7,708,855 shares of the utilities provider’s stock worth $298,949,000 after acquiring an additional 266,810 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of FirstEnergy by 2.4% in the first quarter. Legal & General Group Plc now owns 6,694,268 shares of the utilities provider’s stock worth $268,218,000 after acquiring an additional 155,142 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.
Shares of NYSE:FE opened at $29.35 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.66 and a debt-to-equity ratio of 3.08. FirstEnergy Corp. has a 1 year low of $22.85 and a 1 year high of $52.51. The business has a fifty day simple moving average of $29.01 and a 200 day simple moving average of $37.79. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 23.67 and a beta of 0.27.
FirstEnergy (NYSE:FE) last posted its earnings results on Thursday, July 23rd. The utilities provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. FirstEnergy had a return on equity of 19.31% and a net margin of 6.10%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company earned $0.61 earnings per share. On average, sell-side analysts forecast that FirstEnergy Corp. will post 2.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 5.32%. FirstEnergy’s dividend payout ratio is 60.47%.
A number of equities research analysts have issued reports on FE shares. Argus downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Seaport Global Securities assumed coverage on FirstEnergy in a research note on Wednesday, May 20th. They issued a “buy” rating and a $47.00 price target on the stock. Scotiabank cut FirstEnergy from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $53.00 to $39.00 in a research note on Wednesday, July 22nd. Morgan Stanley cut their price target on FirstEnergy from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Finally, ValuEngine cut FirstEnergy from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. FirstEnergy presently has an average rating of “Hold” and an average price target of $42.59.
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 owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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