Victory Capital Management Inc. Has $2,555,000 Position in FirstEnergy Corp. (FE)
Victory Capital Management Inc. reduced its position in shares of FirstEnergy Corp. (NYSE:FE) by 7.7% during the second quarter, Holdings Channel reports. The institutional investor owned 73,185 shares of the company’s stock after selling 6,127 shares during the period. Victory Capital Management Inc.’s holdings in FirstEnergy Corp. were worth $2,555,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of FE. Assetmark Inc. raised its position in shares of 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 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 last quarter. City Holding Co. increased 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 last quarter. Concert Wealth Management Inc. acquired a new position in FirstEnergy Corp. during the second quarter valued at $220,000. Finally, Sequoia Financial Advisors LLC increased its position 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 during the last quarter. 77.07% of the stock is currently owned by institutional investors.
FirstEnergy Corp. (NYSE:FE) opened at 32.99 on Friday. The firm’s 50-day moving average is $33.17 and its 200-day moving average is $34.19. FirstEnergy Corp. has a 12 month low of $28.89 and a 12 month high of $36.60. The company’s market cap is $14.03 billion.
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 the Zacks’ 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 in the previous year, the business posted $0.53 EPS. On average, analysts anticipate that FirstEnergy Corp. will post $2.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Wednesday, August 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is -103.60%.
Several research analysts have weighed in on FE shares. Bank of America Corp. upgraded shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $41.00 to $40.00 in a report on Monday, August 8th. Jefferies Group restated a “hold” rating and set a $36.00 price objective on shares of FirstEnergy Corp. in a report on Tuesday, August 16th. Morgan Stanley upgraded shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Goldman Sachs Group Inc. downgraded shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $36.00 to $31.00 in a report on Tuesday, July 26th. Finally, Citigroup Inc. upped their price objective on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.82.
About FirstEnergy Corp.
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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