FirstEnergy Corporation (FE) Holdings Boosted by Tiedemann Wealth Management LLC
Tiedemann Wealth Management LLC grew its position in FirstEnergy Corporation (NYSE:FE) by 170.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,408 shares of the utilities provider’s stock after purchasing an additional 14,123 shares during the quarter. Tiedemann Wealth Management LLC’s holdings in FirstEnergy were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of FE. Vanguard Group Inc. lifted its holdings in shares of FirstEnergy by 23.4% in the second quarter. Vanguard Group Inc. now owns 44,375,170 shares of the utilities provider’s stock worth $1,293,979,000 after buying an additional 8,409,439 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of FirstEnergy by 13.9% in the second quarter. BlackRock Inc. now owns 44,045,492 shares of the utilities provider’s stock worth $1,284,363,000 after buying an additional 5,369,241 shares in the last quarter. Brookfield Asset Management Inc. lifted its holdings in shares of FirstEnergy by 3,345.0% in the second quarter. Brookfield Asset Management Inc. now owns 1,829,980 shares of the utilities provider’s stock worth $53,362,000 after buying an additional 1,776,860 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of FirstEnergy by 23.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 6,071,635 shares of the utilities provider’s stock worth $177,049,000 after buying an additional 1,148,955 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of FirstEnergy by 131.8% in the second quarter. Parametric Portfolio Associates LLC now owns 2,013,626 shares of the utilities provider’s stock worth $58,717,000 after buying an additional 1,144,794 shares in the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.
Several equities analysts have recently commented on the stock. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Mizuho reissued a “hold” rating and issued a $30.50 target price on shares of FirstEnergy in a report on Tuesday, October 24th. Bank of America assumed coverage on shares of FirstEnergy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 target price on the stock. KeyCorp reissued a “hold” rating on shares of FirstEnergy in a report on Friday, October 20th. Finally, Citigroup boosted their target price on shares of FirstEnergy from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $34.39.
Shares of FirstEnergy Corporation (NYSE:FE) opened at $33.76 on Friday. The stock has a market cap of $15,018.41, a price-to-earnings ratio of 12.37 and a beta of 0.25. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. FirstEnergy Corporation has a 12 month low of $27.93 and a 12 month high of $35.22.
FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.11. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. During the same quarter in the prior year, the firm earned $0.90 earnings per share. equities analysts forecast that FirstEnergy Corporation will post 3 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Monday, November 6th. FirstEnergy’s payout ratio is -12.31%.
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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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