FirstEnergy Corp. (FE) Shares Bought by Hancock Holding Co.
Hancock Holding Co. increased its position in FirstEnergy Corp. (NYSE:FE) by 7.9% during the second quarter, Holdings Channel reports. The institutional investor owned 22,735 shares of the company’s stock after buying an additional 1,659 shares during the period. Hancock Holding Co.’s holdings in FirstEnergy Corp. were worth $793,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. increased its stake in FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock valued at $141,000 after buying an additional 3,714 shares in the last quarter. Checchi Capital Advisers LLC increased its stake 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 in the last quarter. City Holding Co. increased 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. Nine Chapters Capital Management LLC acquired a new stake in FirstEnergy Corp. during the second quarter valued at $216,000. Finally, Concert Wealth Management Inc. acquired a new stake in FirstEnergy Corp. during the second quarter valued at $220,000. 77.07% of the stock is owned by institutional investors.
Shares of FirstEnergy Corp. (NYSE:FE) traded up 1.258% on Monday, hitting $33.405. 1,129,094 shares of the stock traded hands. The stock’s market cap is $14.20 billion. The stock’s 50 day moving average price is $33.17 and its 200 day moving average price is $34.19. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60.
FirstEnergy Corp. (NYSE:FE) last released its earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 last year, the firm posted $0.53 earnings per share. On average, equities analysts expect that FirstEnergy Corp. will post $2.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.44 annualized dividend and a dividend yield of 4.36%. FirstEnergy Corp.’s dividend payout ratio (DPR) is presently -103.60%.
FE has been the topic of a number of analyst reports. Jefferies Group restated a “hold” rating and issued a $35.00 price objective on shares of FirstEnergy Corp. in a research report on Monday, May 23rd. Bank of America Corp. restated a “buy” rating and issued a $37.00 price objective on shares of FirstEnergy Corp. in a research report on Tuesday, May 24th. Citigroup Inc. boosted their price objective on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. cut shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $36.00 to $31.00 in a research report on Tuesday, July 26th. Finally, Morgan Stanley upgraded shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. FirstEnergy Corp. presently has a consensus rating of “Hold” and a consensus price target 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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