Electron Capital Partners LLC reduced its holdings in FirstEnergy Corp. (NYSE:FE) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,018,362 shares of the utilities provider’s stock after selling 25,896 shares during the quarter. FirstEnergy accounts for 10.4% of Electron Capital Partners LLC’s portfolio, making the stock its 2nd largest position. Electron Capital Partners LLC owned about 0.45% of FirstEnergy worth $61,802,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Baker Ellis Asset Management LLC acquired a new position in shares of FirstEnergy during the 4th quarter valued at $122,000. Tower Research Capital LLC TRC increased its position in shares of FirstEnergy by 344.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 3,714 shares during the period. IBM Retirement Fund acquired a new position in shares of FirstEnergy during the 3rd quarter valued at $204,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of FirstEnergy during the 4th quarter valued at $228,000. Finally, Farmers Trust Co. acquired a new position in shares of FirstEnergy during the 4th quarter valued at $251,000. Institutional investors own 78.77% of the company’s stock.
Several equities analysts have recently issued reports on FE shares. Morgan Stanley set a $35.00 price target on FirstEnergy and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Mizuho reiterated a “hold” rating and set a $32.00 price target on shares of FirstEnergy in a research report on Tuesday, January 30th. Guggenheim reiterated a “buy” rating and set a $47.00 price target on shares of FirstEnergy in a research report on Wednesday, January 3rd. Finally, Citigroup lowered their price target on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. FirstEnergy presently has a consensus rating of “Buy” and a consensus target price of $35.29.
FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.54 billion. FirstEnergy had a positive return on equity of 24.02% and a negative net margin of 12.30%. The company’s revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. research analysts anticipate that FirstEnergy Corp. will post 2.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Tuesday, February 6th. FirstEnergy’s dividend payout ratio is presently -37.11%.
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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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