CrestPoint Capital Management LLC reduced its position in FirstEnergy Corp. (NYSE:FE) by 44.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,500 shares of the utilities provider’s stock after selling 25,400 shares during the quarter. CrestPoint Capital Management LLC’s holdings in FirstEnergy were worth $965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sandy Spring Bank grew its position in shares of FirstEnergy by 1.3% during the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after buying an additional 66 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of FirstEnergy by 32.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,755 shares of the utilities provider’s stock worth $168,000 after buying an additional 1,394 shares in the last quarter. Accurate Investment Solutions Inc. grew its position in shares of FirstEnergy by 767.8% during the third quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock worth $170,000 after buying an additional 4,860 shares in the last quarter. Tiedemann Wealth Management LLC grew its position in shares of FirstEnergy by 170.5% during the third quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock worth $171,000 after buying an additional 14,123 shares in the last quarter. Finally, IBM Retirement Fund acquired a new position in shares of FirstEnergy during the third quarter worth about $204,000. 82.41% of the stock is owned by institutional investors.

FirstEnergy Corp. (NYSE FE) traded down $0.15 during trading on Wednesday, hitting $29.92. The stock had a trading volume of 4,599,100 shares, compared to its average volume of 4,558,650. FirstEnergy Corp. has a twelve month low of $27.93 and a twelve month high of $35.22. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56. The stock has a market capitalization of $13,340.00, a PE ratio of -2.54 and a beta of 0.25.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.11. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. sell-side analysts expect that FirstEnergy Corp. will post 3.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.81%. FirstEnergy’s dividend payout ratio (DPR) is presently -12.23%.

Several equities research analysts recently weighed in on FE shares. Zacks Investment Research cut FirstEnergy from a “hold” rating to a “sell” rating in a research note on Monday. Guggenheim restated a “buy” rating and set a $47.00 target price on shares of FirstEnergy in a research note on Wednesday, January 3rd. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Mizuho restated a “hold” rating and set a $30.50 target price on shares of FirstEnergy in a research note on Tuesday, October 24th. Finally, Bank of America started coverage on FirstEnergy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. FirstEnergy currently has a consensus rating of “Hold” and an average price target of $35.32.

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FirstEnergy Company Profile

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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