Brown Advisory Inc. decreased its position in shares of FirstEnergy Corp. (NYSE:FE) by 21.9% during the 3rd quarter, Holdings Channel reports. The fund owned 79,797 shares of the utilities provider’s stock after selling 22,389 shares during the quarter. Brown Advisory Inc.’s holdings in FirstEnergy were worth $2,966,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FE. Winslow Evans & Crocker Inc. bought a new position in FirstEnergy during the 3rd quarter worth approximately $114,000. Valeo Financial Advisors LLC boosted its stake in FirstEnergy by 104.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,759 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 1,920 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in FirstEnergy during the 2nd quarter worth approximately $189,000. Affinity Investment Advisors LLC bought a new position in FirstEnergy during the 3rd quarter worth approximately $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in FirstEnergy during the 3rd quarter worth approximately $205,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of FE stock opened at $39.08 on Friday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.41 and a current ratio of 0.45. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.52 and a beta of 0.30. FirstEnergy Corp. has a 52 week low of $29.33 and a 52 week high of $39.38.

FirstEnergy (NYSE:FE) last announced its earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.82 billion. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. On average, analysts forecast that FirstEnergy Corp. will post 2.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 7th will be issued a dividend of $0.38 per share. This is an increase from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, October 10th. Citigroup lifted their price objective on shares of FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Barclays lifted their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. Bank of America lifted their price objective on shares of FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Finally, Morgan Stanley lifted their price objective on shares of FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.00.

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FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

See Also: Systematic Risk and Investors

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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