Aberdeen Asset Management PLC UK increased its stake in FirstEnergy Corporation (NYSE:FE) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,032,787 shares of the utilities provider’s stock after acquiring an additional 81,054 shares during the quarter. Aberdeen Asset Management PLC UK owned about 0.23% of FirstEnergy Corporation worth $30,116,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares during the period. Vanguard Group Inc. lifted its stake in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares during the period. Prudential Financial Inc. lifted its stake in FirstEnergy Corporation by 73.2% in the first quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock valued at $162,172,000 after buying an additional 2,154,657 shares during the period. Bank of America Corp DE lifted its stake in FirstEnergy Corporation by 54.8% in the first quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock valued at $140,747,000 after buying an additional 1,566,627 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its stake in FirstEnergy Corporation by 23.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 6,071,635 shares of the utilities provider’s stock valued at $177,049,000 after buying an additional 1,148,955 shares during the period. 79.86% of the stock is currently owned by institutional investors.
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Shares of FirstEnergy Corporation (FE) opened at 32.21 on Friday. The company’s 50-day moving average price is $32.22 and its 200 day moving average price is $30.70. The company’s market cap is $14.31 billion. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96.
FirstEnergy Corporation (NYSE:FE) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities research analysts anticipate that FirstEnergy Corporation will post $2.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Thursday, August 3rd. FirstEnergy Corporation’s payout ratio is presently -12.31%.
Several brokerages have issued reports on FE. Evercore ISI raised FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Deutsche Bank AG reissued a “hold” rating and issued a $34.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. Morgan Stanley boosted their price target on FirstEnergy Corporation from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. Finally, ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. FirstEnergy Corporation has a consensus rating of “Hold” and an average price target of $33.88.
FirstEnergy Corporation Profile
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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