Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of FirstEnergy Corp. (NYSE:FE) by 12.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,194,509 shares of the company’s stock after selling 175,104 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in FirstEnergy Corp. were worth $41,700,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in FE. Checchi Capital Advisers LLC boosted its position in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock worth $160,000 after buying an additional 281 shares during the period. City Holding Co. boosted its position in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock worth $170,000 after buying an additional 782 shares during the period. Concert Wealth Management Inc. bought a new position in shares of FirstEnergy Corp. during the second quarter worth approximately $220,000. BB&T Securities LLC boosted its position in shares of FirstEnergy Corp. by 9.4% in the first quarter. BB&T Securities LLC now owns 6,907 shares of the company’s stock worth $248,000 after buying an additional 595 shares during the period. Finally, Boothbay Fund Management LLC boosted its position in shares of FirstEnergy Corp. by 16.7% in the first quarter. Boothbay Fund Management LLC now owns 7,765 shares of the company’s stock worth $279,000 after buying an additional 1,112 shares during the period. Institutional investors and hedge funds own 75.86% of the company’s stock.
FirstEnergy Corp. (NYSE:FE) traded up 2.89% on Tuesday, hitting $33.16. The stock had a trading volume of 7,351,089 shares. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60. The firm’s 50-day moving average is $32.77 and its 200-day moving average is $33.74. The company’s market cap is $14.10 billion.
FirstEnergy Corp. (NYSE:FE) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.05% and a negative net margin of 3.96%. During the same period last year, the business earned $0.53 earnings per share. Equities research analysts anticipate that FirstEnergy Corp. will post $2.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 annualized dividend and a yield of 4.34%. FirstEnergy Corp.’s payout ratio is -103.60%.
A number of equities analysts have recently commented on the company. Barclays PLC set a $36.00 target price on FirstEnergy Corp. and gave the stock a “hold” rating in a report on Saturday, September 17th. Jefferies Group reiterated a “hold” rating and issued a $34.00 target price on shares of FirstEnergy Corp. in a report on Tuesday. Citigroup Inc. upgraded FirstEnergy Corp. from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $29.00 to $31.00 in a report on Tuesday. Evercore ISI upgraded FirstEnergy Corp. from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Goldman Sachs Group Inc. cut FirstEnergy Corp. from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $36.00 to $31.00 in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $35.97.
FirstEnergy Corp. Company Profile
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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