FirstEnergy Corporation (FE) Position Held by Smithfield Trust Co.
Smithfield Trust Co. maintained its stake in shares of FirstEnergy Corporation (NYSE:FE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,350 shares of the utilities provider’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in FirstEnergy Corporation were worth $127,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of FirstEnergy Corporation during the first quarter valued at approximately $139,000. Sandy Spring Bank boosted its stake in shares of FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock valued at $161,000 after buying an additional 97 shares during the period. City Holding Co. boosted its stake in shares of FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after buying an additional 400 shares during the period. Ledyard National Bank acquired a new stake in shares of FirstEnergy Corporation during the first quarter valued at approximately $174,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of FirstEnergy Corporation during the first quarter valued at approximately $215,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.
FirstEnergy Corporation (FE) opened at 31.61 on Thursday. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $34.96. The firm’s market cap is $14.04 billion. The company has a 50-day moving average of $30.46 and a 200-day moving average of $30.33.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts forecast that FirstEnergy Corporation will post $2.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 4.56%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
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Several brokerages have commented on FE. Zacks Investment Research cut shares of FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Group LLC restated a “hold” rating and set a $33.00 price objective (up from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. BidaskClub upgraded shares of FirstEnergy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Citigroup Inc. lowered their price objective on shares of FirstEnergy Corporation from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $33.63.
FirstEnergy Corporation Company Profile
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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