NWQ Investment Management Company LLC raised its stake in FirstEnergy Corp. (NYSE:FE) by 11.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,541,426 shares of the utilities provider’s stock after purchasing an additional 256,597 shares during the period. FirstEnergy accounts for approximately 1.0% of NWQ Investment Management Company LLC’s holdings, making the stock its 25th biggest holding. NWQ Investment Management Company LLC owned 0.57% of FirstEnergy worth $77,818,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in FE. Renaissance Technologies LLC boosted its holdings in shares of FirstEnergy by 46.3% in the 4th quarter. Renaissance Technologies LLC now owns 9,391,408 shares of the utilities provider’s stock valued at $287,565,000 after buying an additional 2,972,400 shares during the period. APG Asset Management N.V. boosted its holdings in shares of FirstEnergy by 91.7% in the 4th quarter. APG Asset Management N.V. now owns 3,795,477 shares of the utilities provider’s stock valued at $96,783,000 after buying an additional 1,816,000 shares during the period. BlackRock Inc. boosted its holdings in shares of FirstEnergy by 2.8% in the 4th quarter. BlackRock Inc. now owns 52,723,417 shares of the utilities provider’s stock valued at $1,614,390,000 after buying an additional 1,431,172 shares during the period. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of FirstEnergy by 4,057.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,060,105 shares of the utilities provider’s stock valued at $32,460,000 after buying an additional 1,034,605 shares during the period. Finally, AXA boosted its holdings in shares of FirstEnergy by 7,554.9% in the 3rd quarter. AXA now owns 1,030,430 shares of the utilities provider’s stock valued at $31,768,000 after buying an additional 1,016,969 shares during the period. 78.77% of the stock is owned by institutional investors.
FirstEnergy Corp. (NYSE FE) opened at $32.65 on Monday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.65 and a current ratio of 0.76. The stock has a market cap of $15,530.00, a PE ratio of -8.44, a price-to-earnings-growth ratio of 13.67 and a beta of 0.34. FirstEnergy Corp. has a one year low of $27.93 and a one year high of $35.22.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Tuesday, February 6th. FirstEnergy’s payout ratio is -37.21%.
Several research analysts have recently commented on FE shares. Morgan Stanley set a $35.00 price target on shares of FirstEnergy and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Mizuho reaffirmed a “hold” rating and issued a $32.00 price target on shares of FirstEnergy in a report on Tuesday, January 30th. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price target on shares of FirstEnergy in a report on Wednesday, January 3rd. Finally, Citigroup reduced their target price on shares of FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, January 30th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $35.29.
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FirstEnergy 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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