Russell Investments Group Ltd. lifted its position in FirstEnergy Corp. (NYSE:FE) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,250 shares of the utilities provider’s stock after acquiring an additional 2,981 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of FirstEnergy worth $27,904,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC lifted its holdings in FirstEnergy by 1.8% during the third quarter. SeaCrest Wealth Management LLC now owns 11,994 shares of the utilities provider’s stock valued at $578,000 after purchasing an additional 214 shares during the last quarter. FormulaFolio Investments LLC lifted its holdings in FirstEnergy by 4.1% during the third quarter. FormulaFolio Investments LLC now owns 5,721 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 224 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in FirstEnergy by 3.6% during the third quarter. CIBC Private Wealth Group LLC now owns 6,508 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 225 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in FirstEnergy by 0.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 63,655 shares of the utilities provider’s stock valued at $2,725,000 after purchasing an additional 228 shares during the last quarter. Finally, AGF Investments LLC lifted its holdings in FirstEnergy by 26.3% during the second quarter. AGF Investments LLC now owns 1,144 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 94.22% of the company’s stock.
Shares of NYSE FE opened at $46.72 on Friday. FirstEnergy Corp. has a one year low of $35.33 and a one year high of $49.07. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.62 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $47.97 and its two-hundred day simple moving average is $44.72. The stock has a market capitalization of $25.23 billion, a P/E ratio of 18.04, a PEG ratio of 3.13 and a beta of 0.18.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect that FirstEnergy Corp. will post 2.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, November 6th. FirstEnergy’s dividend payout ratio is 58.69%.
FE has been the topic of several recent research reports. KeyCorp upped their price objective on shares of FirstEnergy from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Mizuho downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $48.50 in a report on Friday, September 20th. ValuEngine downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup set a $49.00 price target on shares of FirstEnergy and gave the stock a “hold” rating in a report on Thursday, October 10th. Finally, Bank of America downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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