FirstEnergy Corp. (FE) Shares Bought by Hexavest Inc.
Hexavest Inc. raised its holdings in FirstEnergy Corp. (NYSE:FE) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 999,014 shares of the utilities provider’s stock after acquiring an additional 21,603 shares during the quarter. Hexavest Inc.’s holdings in FirstEnergy were worth $30,590,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Sandy Spring Bank grew its position in FirstEnergy by 1.3% in the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 66 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in FirstEnergy by 32.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,755 shares of the utilities provider’s stock valued at $168,000 after acquiring an additional 1,394 shares during the last quarter. Accurate Investment Solutions Inc. grew its position in FirstEnergy by 767.8% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock valued at $170,000 after acquiring an additional 4,860 shares during the last quarter. Tiedemann Wealth Management LLC grew its position in FirstEnergy by 170.5% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock valued at $171,000 after acquiring an additional 14,123 shares during the last quarter. Finally, IBM Retirement Fund bought a new position in FirstEnergy in the 3rd quarter valued at $204,000. 82.32% of the stock is currently owned by institutional investors.
Shares of FirstEnergy Corp. (NYSE:FE) opened at $30.07 on Friday. FirstEnergy Corp. has a 1-year low of $27.93 and a 1-year high of $35.22. The firm has a market capitalization of $13,452.50, a price-to-earnings ratio of -2.57 and a beta of 0.25. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56.
FirstEnergy (NYSE:FE) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.11. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period in the prior year, the business earned $0.90 EPS. sell-side analysts predict that FirstEnergy Corp. will post 3 earnings per share for the current fiscal year.
Several equities analysts have commented on the company. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a report on Tuesday. Guggenheim reiterated a “buy” rating and issued a $47.00 target price on shares of FirstEnergy in a report on Wednesday, January 3rd. Citigroup upped their target price on FirstEnergy from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. Finally, JPMorgan Chase & Co. set a $34.00 target price on FirstEnergy and gave the stock a “hold” rating in a report on Thursday, October 12th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.32.
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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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