Ontario Teachers Pension Plan Board bought a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 28,938 shares of the utilities provider’s stock, valued at approximately $1,076,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Partners LTD. bought a new position in shares of FirstEnergy during the 3rd quarter valued at about $216,000. Winslow Evans & Crocker Inc. bought a new position in shares of FirstEnergy during the 3rd quarter valued at about $114,000. Valeo Financial Advisors LLC lifted its holdings in shares of FirstEnergy by 104.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,759 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 1,920 shares during the last quarter. IMA Wealth Inc. bought a new position in shares of FirstEnergy in the 2nd quarter valued at about $180,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of FirstEnergy in the 2nd quarter valued at about $189,000. Institutional investors and hedge funds own 90.57% of the company’s stock.
Shares of NYSE:FE opened at $37.15 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 2.44. FirstEnergy Corp. has a 12 month low of $29.33 and a 12 month high of $39.38. The stock has a market capitalization of $19.23 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 2.46 and a beta of 0.24.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.82 billion. On average, sell-side analysts forecast that FirstEnergy Corp. will post 2.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 7th will be given a $0.38 dividend. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio is 46.91%.
FE has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “buy” rating for the company in a report on Friday, September 21st. Wells Fargo & Co reaffirmed a “buy” rating and issued a $42.00 price target (up previously from $41.00) on shares of FirstEnergy in a report on Monday, September 17th. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Bank of America increased their price target on shares of FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 29th. Finally, Barclays increased their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Monday, November 19th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. FirstEnergy currently has a consensus rating of “Buy” and an average target price of $40.00.
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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