FirstEnergy Corp. (FE) Shares Bought by Millennium Management LLC
Millennium Management LLC raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 52.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,695,998 shares of the utilities provider’s stock after acquiring an additional 1,613,516 shares during the period. Millennium Management LLC owned approximately 0.97% of FirstEnergy worth $168,633,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of FE. Private Capital Group LLC boosted its holdings in shares of FirstEnergy by 1,890.7% during the first quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 2,836 shares during the period. Reilly Financial Advisors LLC boosted its holdings in shares of FirstEnergy by 285.8% during the second quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 2,132 shares during the period. IMA Wealth Inc. bought a new stake in shares of FirstEnergy during the second quarter worth approximately $180,000. Piedmont Investment Advisors LLC bought a new stake in shares of FirstEnergy during the second quarter worth approximately $189,000. Finally, Signition LP bought a new stake in shares of FirstEnergy during the first quarter worth approximately $204,000. Institutional investors own 94.41% of the company’s stock.
A number of brokerages have recently issued reports on FE. TheStreet upgraded FirstEnergy from a “c+” rating to a “b” rating in a report on Tuesday, July 31st. Howard Weil began coverage on FirstEnergy in a report on Tuesday, July 24th. They set a “sector outperform” rating and a $39.00 price objective for the company. Morgan Stanley boosted their price objective on FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday. ValuEngine cut FirstEnergy from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Finally, Barclays began coverage on FirstEnergy in a report on Tuesday, July 10th. They set an “equal weight” rating and a $39.00 price objective for the company. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $37.75.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.09. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. FirstEnergy had a positive return on equity of 24.39% and a negative net margin of 4.60%. During the same period in the previous year, the company posted $0.61 earnings per share. analysts predict that FirstEnergy Corp. will post 2.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Tuesday, August 7th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is currently 46.91%.
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: Book Value Per Share – BVPS
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