Dupont Capital Management Corp Decreases Position in FirstEnergy Corporation (FE)
Dupont Capital Management Corp reduced its stake in FirstEnergy Corporation (NYSE:FE) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,554 shares of the utilities provider’s stock after selling 21,428 shares during the period. Dupont Capital Management Corp owned 0.06% of FirstEnergy Corporation worth $8,465,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Washington Trust Bank raised its stake in FirstEnergy Corporation by 0.3% in the second quarter. Washington Trust Bank now owns 13,570 shares of the utilities provider’s stock worth $396,000 after buying an additional 36 shares in the last quarter. Sandy Spring Bank increased its stake in shares of FirstEnergy Corporation by 1.3% during the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 66 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of FirstEnergy Corporation by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,967 shares of the utilities provider’s stock valued at $961,000 after purchasing an additional 145 shares in the last quarter. Sentry Investment Management LLC increased its stake in shares of FirstEnergy Corporation by 0.5% during the second quarter. Sentry Investment Management LLC now owns 35,060 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 185 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in shares of FirstEnergy Corporation by 0.7% during the second quarter. Norinchukin Bank The now owns 36,293 shares of the utilities provider’s stock valued at $1,058,000 after purchasing an additional 240 shares in the last quarter. 80.06% of the stock is owned by institutional investors.
Shares of FirstEnergy Corporation (NYSE:FE) traded up $0.19 during mid-day trading on Friday, reaching $32.75. 3,109,023 shares of the company traded hands, compared to its average volume of 3,980,000. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The stock has a market capitalization of $14.57 billion, a PE ratio of 11.94 and a beta of 0.24. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $34.83.
FirstEnergy Corporation (NYSE:FE) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.11. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.72 billion. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same quarter in the previous year, the firm earned $0.90 EPS. analysts predict that FirstEnergy Corporation will post 3.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.40%. The ex-dividend date is Monday, November 6th. FirstEnergy Corporation’s dividend payout ratio is -12.23%.
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FE has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of FirstEnergy Corporation in a research note on Tuesday, July 11th. Tudor Pickering raised shares of FirstEnergy Corporation from a “trim” rating to a “hold” rating in a research note on Friday, July 14th. Citigroup Inc decreased their target price on shares of FirstEnergy Corporation from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, July 19th. BidaskClub raised shares of FirstEnergy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $34.00 target price (up previously from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.39.
About FirstEnergy Corporation
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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