FirstEnergy Corp. (FE) Shares Bought by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC lifted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,426 shares of the utilities provider’s stock after purchasing an additional 2,200 shares during the quarter. Nisa Investment Advisors LLC’s holdings in FirstEnergy were worth $4,512,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lake Point Wealth Management purchased a new position in FirstEnergy during the 4th quarter valued at about $25,000. Legacy Advisors LLC acquired a new stake in FirstEnergy in the 1st quarter valued at about $33,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in FirstEnergy in the 4th quarter valued at about $34,000. Kaizen Advisory LLC raised its position in FirstEnergy by 23.6% in the 4th quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 254 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in FirstEnergy by 98.4% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 666 shares in the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.
A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, January 11th. Bank of America increased their price target on FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $46.00 in a report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. FirstEnergy has an average rating of “Buy” and a consensus price target of $42.86.
FE opened at $40.50 on Monday. The firm has a market cap of $21.52 billion, a PE ratio of 15.64 and a beta of 0.30. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.52 and a quick ratio of 0.46. FirstEnergy Corp. has a fifty-two week low of $32.92 and a fifty-two week high of $42.13.
FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.67 billion. FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. During the same period last year, the company posted $0.71 EPS. Equities research analysts forecast that FirstEnergy Corp. will post 2.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 58.69%.
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FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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