Strs Ohio cut its stake in shares of FirstEnergy Corp. (NYSE:FE) by 90.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 47,471 shares of the company’s stock after selling 440,941 shares during the period. Strs Ohio’s holdings in FirstEnergy Corp. were worth $1,657,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its position in shares of FirstEnergy Corp. by 5.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,140,851 shares of the company’s stock valued at $77,006,000 after buying an additional 110,916 shares during the last quarter. Credit Agricole S A boosted its position in shares of FirstEnergy Corp. by 45.0% in the first quarter. Credit Agricole S A now owns 347,906 shares of the company’s stock valued at $12,514,000 after buying an additional 107,893 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of FirstEnergy Corp. during the first quarter valued at approximately $596,000. Acadian Asset Management LLC boosted its position in shares of FirstEnergy Corp. by 324.8% in the second quarter. Acadian Asset Management LLC now owns 28,054 shares of the company’s stock valued at $980,000 after buying an additional 21,450 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of FirstEnergy Corp. by 6.3% in the first quarter. Geode Capital Management LLC now owns 3,704,869 shares of the company’s stock valued at $133,012,000 after buying an additional 219,805 shares during the last quarter. Institutional investors own 75.93% of the company’s stock.
FirstEnergy Corp. (NYSE:FE) traded up 1.31% during midday trading on Monday, reaching $31.73. 2,389,314 shares of the company’s stock were exchanged. The stock’s market cap is $13.49 billion. The firm has a 50 day moving average of $32.96 and a 200-day moving average of $33.94. FirstEnergy Corp. has a 12 month low of $28.89 and a 12 month high of $36.60.
FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. FirstEnergy Corp. had a negative net margin of 3.96% and a positive return on equity of 10.05%. During the same period in the prior year, the business earned $0.53 EPS. On average, equities research analysts predict that FirstEnergy Corp. will post $2.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s payout ratio is -103.60%.
FE has been the subject of several analyst reports. Jefferies Group restated a “hold” rating and issued a $36.00 target price on shares of FirstEnergy Corp. in a research report on Tuesday, August 16th. Citigroup Inc. lifted their price target on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a report on Wednesday, July 20th. Morgan Stanley raised shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Bank of America Corp. raised shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and decreased their price target for the company from $41.00 to $40.00 in a report on Monday, August 8th. Finally, Goldman Sachs Group Inc. lowered shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and decreased their price target for the company from $36.00 to $31.00 in a report on Tuesday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.82.
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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