Nordea Investment Management AB reduced its position in shares of FirstEnergy Corp. (NYSE:FE) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,474 shares of the company’s stock after selling 11,827 shares during the period. Nordea Investment Management AB’s holdings in FirstEnergy Corp. were worth $2,844,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FE. Checchi Capital Advisers LLC increased its position in FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock valued at $160,000 after buying an additional 281 shares during the period. City Holding Co. boosted its stake in FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock valued at $170,000 after buying an additional 782 shares in the last quarter. Concert Wealth Management Inc. acquired a new stake in FirstEnergy Corp. during the second quarter valued at about $220,000. Sequoia Financial Advisors LLC boosted its stake in FirstEnergy Corp. by 8.3% in the second quarter. Sequoia Financial Advisors LLC now owns 6,676 shares of the company’s stock valued at $233,000 after buying an additional 510 shares in the last quarter. Finally, BB&T Securities LLC boosted its stake in FirstEnergy Corp. by 9.4% in the first quarter. BB&T Securities LLC now owns 6,907 shares of the company’s stock valued at $248,000 after buying an additional 595 shares in the last quarter. 75.86% of the stock is currently owned by institutional investors.
Shares of FirstEnergy Corp. (NYSE:FE) traded down 0.03% during midday trading on Wednesday, hitting $33.15. The company had a trading volume of 5,856,886 shares. FirstEnergy Corp. has a 12 month low of $28.89 and a 12 month high of $36.60. The company’s market capitalization is $14.10 billion. The company has a 50-day moving average of $32.78 and a 200-day moving average of $33.72.
FirstEnergy Corp. (NYSE:FE) last announced its earnings results on Thursday, July 28th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.53 earnings per share. Analysts predict that FirstEnergy Corp. will post $2.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.34%. FirstEnergy Corp.’s payout ratio is currently -103.60%.
FE has been the subject of several research analyst reports. Evercore ISI upgraded FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and cut their target price for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Barclays PLC set a $36.00 target price on FirstEnergy Corp. and gave the stock a “hold” rating in a research report on Saturday, September 17th. Jefferies Group reiterated a “hold” rating and set a $36.00 target price on shares of FirstEnergy Corp. in a research report on Tuesday, August 16th. Finally, RBC Capital Markets reiterated a “hold” rating and set a $36.00 target price (down previously from $38.00) on shares of FirstEnergy Corp. in a research report on Thursday, October 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. FirstEnergy Corp. currently has a consensus 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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