Janus Henderson Group PLC Buys 220,262 Shares of FirstEnergy Corp. (FE)

Janus Henderson Group PLC grew its stake in shares of FirstEnergy Corp. (NYSE:FE) by 81.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 490,649 shares of the utilities provider’s stock after purchasing an additional 220,262 shares during the period. Janus Henderson Group PLC owned about 0.10% of FirstEnergy worth $18,239,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of FE. Banco de Sabadell S.A grew its holdings in shares of FirstEnergy by 0.9% in the second quarter. Banco de Sabadell S.A now owns 152,375 shares of the utilities provider’s stock valued at $5,493,000 after acquiring an additional 1,401 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of FirstEnergy by 6.8% in the third quarter. Synovus Financial Corp now owns 22,477 shares of the utilities provider’s stock valued at $832,000 after acquiring an additional 1,434 shares in the last quarter. World Asset Management Inc grew its holdings in shares of FirstEnergy by 5.3% in the third quarter. World Asset Management Inc now owns 31,834 shares of the utilities provider’s stock valued at $1,183,000 after acquiring an additional 1,616 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of FirstEnergy by 2.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 89,124 shares of the utilities provider’s stock valued at $3,312,000 after acquiring an additional 1,839 shares in the last quarter. Finally, WINTON GROUP Ltd grew its holdings in FirstEnergy by 27.8% during the third 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 during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on FE shares. Morgan Stanley increased their price objective on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Wells Fargo & Co reissued a “buy” rating and set a $42.00 price objective (up from $41.00) on shares of FirstEnergy in a report on Monday, September 17th. Citigroup increased their price objective on FirstEnergy from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, October 3rd. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 10th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. FirstEnergy presently has a consensus rating of “Buy” and a consensus target price of $40.00.

Shares of NYSE FE opened at $39.23 on Friday. FirstEnergy Corp. has a 1-year low of $29.33 and a 1-year high of $39.41. The firm has a market cap of $19.99 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 2.56 and a beta of 0.30. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.82 billion. Analysts anticipate 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. Shareholders of record on Thursday, February 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.87%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio is 46.91%.

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FirstEnergy 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.

Further Reading: NASDAQ

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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