FirstEnergy Corporation (FE) Shares Bought by Advisor Group Inc.
Advisor Group Inc. boosted its stake in FirstEnergy Corporation (NYSE:FE) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,444 shares of the utilities provider’s stock after buying an additional 6,850 shares during the period. Advisor Group Inc.’s holdings in FirstEnergy Corporation were worth $3,252,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of FE. Thrivent Financial For Lutherans raised its holdings in FirstEnergy Corporation by 9.0% in the 1st quarter. Thrivent Financial For Lutherans now owns 16,718 shares of the utilities provider’s stock valued at $531,000 after buying an additional 1,380 shares during the period. Dimensional Fund Advisors LP raised its holdings in FirstEnergy Corporation by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 920,225 shares of the utilities provider’s stock valued at $29,278,000 after buying an additional 28,974 shares during the period. Janus Capital Management LLC raised its holdings in FirstEnergy Corporation by 115.1% in the 1st quarter. Janus Capital Management LLC now owns 97,535 shares of the utilities provider’s stock valued at $3,104,000 after buying an additional 52,189 shares during the period. Xact Kapitalforvaltning AB raised its holdings in FirstEnergy Corporation by 8.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 34,787 shares of the utilities provider’s stock valued at $1,014,000 after buying an additional 2,682 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its holdings in FirstEnergy Corporation by 52.3% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 40,557 shares of the utilities provider’s stock valued at $1,183,000 after buying an additional 13,924 shares during the period. Hedge funds and other institutional investors own 79.23% of the company’s stock.
Shares of FirstEnergy Corporation (NYSE FE) traded up $0.84 during trading on Wednesday, hitting $35.05. The stock had a trading volume of 5,251,500 shares, compared to its average volume of 4,259,997. FirstEnergy Corporation has a 1-year low of $27.93 and a 1-year high of $35.06. The firm has a market capitalization of $15,218.59, a P/E ratio of 12.53 and a beta of 0.24. 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 (NYSE:FE) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.11. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period in the previous year, the company posted $0.90 earnings per share. analysts forecast that FirstEnergy Corporation will post 2.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Monday, November 6th. FirstEnergy Corporation’s dividend payout ratio (DPR) is -12.31%.
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FE has been the subject of several research reports. Morgan Stanley set a $39.00 target price on FirstEnergy Corporation and gave the company a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research raised FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Monday, September 11th. ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Deutsche Bank AG raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $33.00 target price (up from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $34.39.
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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