FirstEnergy Corp. (FE) Shares Sold by Wagner Bowman Management Corp
Wagner Bowman Management Corp lowered its position in FirstEnergy Corp. (NYSE:FE) by 28.6% during the second quarter, Holdings Channel reports. The firm owned 7,819 shares of the company’s stock after selling 3,132 shares during the period. Wagner Bowman Management Corp’s holdings in FirstEnergy Corp. were worth $272,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Checchi Capital Advisers LLC boosted 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 position 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 during the period. BB&T Securities LLC boosted its position 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 during the period. Acrospire Investment Management LLC acquired a new position in FirstEnergy Corp. during the first quarter valued at approximately $266,000. Finally, Boothbay Fund Management LLC boosted its position in FirstEnergy Corp. by 16.7% in the first quarter. Boothbay Fund Management LLC now owns 7,765 shares of the company’s stock valued at $279,000 after buying an additional 1,112 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.
Shares of FirstEnergy Corp. (NYSE:FE) traded up 2.46% on Wednesday, reaching $34.57. The company had a trading volume of 3,175,065 shares. The company has a 50-day moving average price of $32.92 and a 200-day moving average price of $34.17. The firm’s market cap is $14.70 billion. FirstEnergy Corp. has a one year low of $28.89 and a one year high of $36.60.
FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarter last year, the firm posted $0.53 EPS. On average, analysts expect that FirstEnergy Corp. will post $2.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s payout ratio is presently -103.60%.
Several research firms have recently commented on FE. Bank of America Corp. reiterated a “buy” rating and set a $37.00 target price on shares of FirstEnergy Corp. in a research note on Tuesday, May 24th. Citigroup Inc. increased their target price on FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a research note on Wednesday, July 20th. Jefferies Group reissued a “hold” rating and set a $36.00 price target on shares of FirstEnergy Corp. in a research report on Tuesday, August 16th. Morgan Stanley raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and upped their price target 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. Finally, Goldman Sachs Group Inc. lowered FirstEnergy Corp. from a “neutral” rating to a “sell” rating and dropped their price target for the company from $36.00 to $31.00 in a research report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average 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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