Los Angeles Capital Management & Equity Research Inc. increased its position in shares of FirstEnergy Corp. (NYSE:FE) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 548,336 shares of the utilities provider’s stock after acquiring an additional 3,270 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.11% of FirstEnergy worth $20,382,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. BP PLC grew its stake in FirstEnergy by 3.4% in the 3rd quarter. BP PLC now owns 60,000 shares of the utilities provider’s stock worth $2,231,000 after buying an additional 2,000 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of FirstEnergy by 27.8% in the 3rd quarter. WINTON GROUP Ltd now owns 8,539 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 1,857 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of FirstEnergy by 290.3% in the 3rd quarter. Wells Fargo & Company MN now owns 4,304,504 shares of the utilities provider’s stock valued at $159,998,000 after purchasing an additional 3,201,774 shares in the last quarter. Tdam USA Inc. boosted its stake in shares of FirstEnergy by 1.5% in the 3rd quarter. Tdam USA Inc. now owns 261,633 shares of the utilities provider’s stock valued at $9,589,000 after purchasing an additional 3,965 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of FirstEnergy by 45.5% in the 3rd quarter. Private Advisor Group LLC now owns 19,592 shares of the utilities provider’s stock valued at $728,000 after purchasing an additional 6,125 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of FirstEnergy stock opened at $38.00 on Friday. FirstEnergy Corp. has a 52-week low of $29.33 and a 52-week high of $39.01. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41. The firm has a market capitalization of $19.31 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 2.48 and a beta of 0.24.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.09. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.82 billion. As a group, equities research analysts forecast that FirstEnergy Corp. will post 2.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 3.79%. FirstEnergy’s dividend payout ratio is currently 46.91%.
FE has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of FirstEnergy from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, July 16th. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, July 17th. Howard Weil initiated coverage on shares of FirstEnergy in a research note on Tuesday, July 24th. They issued a “sector outperform” rating and a $39.00 price objective for the company. Bank of America upped their price objective on shares of FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, TheStreet raised shares of FirstEnergy from a “c+” rating to a “b” rating in a research note on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $39.90.
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FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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