Toronto Dominion Bank Has $4.38 Million Holdings in FirstEnergy Corporation (FE)
Toronto Dominion Bank grew its stake in FirstEnergy Corporation (NYSE:FE) by 26.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,306 shares of the utilities provider’s stock after buying an additional 31,080 shares during the period. Toronto Dominion Bank’s holdings in FirstEnergy Corporation were worth $4,383,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of FirstEnergy Corporation 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 purchasing an additional 8,409,439 shares during the period. BlackRock Inc. increased its stake in shares of FirstEnergy Corporation 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 purchasing an additional 5,369,241 shares during the period. LSV Asset Management increased its stake in shares of FirstEnergy Corporation by 2.7% in the second quarter. LSV Asset Management now owns 14,438,631 shares of the utilities provider’s stock worth $421,030,000 after purchasing an additional 385,978 shares during the period. Bank of New York Mellon Corp increased its stake in shares of FirstEnergy Corporation by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 11,546,862 shares of the utilities provider’s stock worth $336,706,000 after purchasing an additional 745,495 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of FirstEnergy Corporation 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 purchasing an additional 1,148,955 shares during the period. 80.02% of the stock is owned by institutional investors.
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A number of equities analysts have recently commented on the company. Citigroup Inc. lifted their price objective on FirstEnergy Corporation from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday. KeyCorp reiterated a “hold” rating on shares of FirstEnergy Corporation in a research note on Friday. Zacks Investment Research lowered FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. ValuEngine upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Finally, Evercore ISI upgraded FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $35.00 in a research note on Monday, August 14th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $34.48.
FirstEnergy Corporation (NYSE:FE) opened at 32.13 on Friday. The stock has a 50 day moving average price of $31.59 and a 200 day moving average price of $30.71. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.83. The firm’s market capitalization is $14.28 billion.
FirstEnergy Corporation (NYSE:FE) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.38 billion. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. On average, equities analysts predict that FirstEnergy Corporation will post $2.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.48%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
About FirstEnergy Corporation
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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