HBK Investments L P raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 172.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 469,200 shares of the utilities provider’s stock after acquiring an additional 297,099 shares during the period. HBK Investments L P owned approximately 0.11% of FirstEnergy worth $14,367,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of FirstEnergy by 46.3% in the fourth 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 in the last quarter. NWQ Investment Management Company LLC acquired a new stake in shares of FirstEnergy in the third quarter valued at approximately $70,441,000. APG Asset Management N.V. raised its position in shares of FirstEnergy by 91.7% in the fourth 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 in the last quarter. BlackRock Inc. raised its position in shares of FirstEnergy by 2.8% in the fourth 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 in the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of FirstEnergy by 4,057.3% in the fourth 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 in the last quarter. Institutional investors own 78.77% of the company’s stock.
FE has been the subject of a number of analyst reports. ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.09 to $36.00 in a research report on Friday, January 26th. UBS Group started coverage on shares of FirstEnergy in a research report on Friday, February 2nd. They set a “buy” rating and a $39.00 price objective for the company. Morgan Stanley set a $35.00 price objective on shares of FirstEnergy and gave the company a “buy” rating in a research report on Thursday, March 8th. Finally, Zacks Investment Research downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. FirstEnergy presently has a consensus rating of “Buy” and an average price target of $35.29.
FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.54 billion. FirstEnergy had a negative net margin of 12.30% and a positive return on equity of 24.02%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. equities research analysts anticipate that FirstEnergy Corp. will post 2.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.40%. FirstEnergy’s dividend payout ratio (DPR) 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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