Keybank National Association OH lowered its holdings in FirstEnergy Corporation (NYSE:FE) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,925 shares of the utilities provider’s stock after selling 1,553 shares during the quarter. Keybank National Association OH’s holdings in FirstEnergy Corporation were worth $552,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in FE. Flippin Bruce & Porter Inc. grew its position in FirstEnergy Corporation by 2.7% during the second quarter. Flippin Bruce & Porter Inc. now owns 253,947 shares of the utilities provider’s stock valued at $7,405,000 after buying an additional 6,765 shares during the period. Brookstone Capital Management grew its position in FirstEnergy Corporation by 2.8% during the second quarter. Brookstone Capital Management now owns 187,235 shares of the utilities provider’s stock valued at $5,460,000 after buying an additional 5,023 shares during the period. Pacer Advisors Inc. grew its position in FirstEnergy Corporation by 8.4% during the second quarter. Pacer Advisors Inc. now owns 9,101 shares of the utilities provider’s stock valued at $265,000 after buying an additional 703 shares during the period. Utah Retirement Systems grew its position in FirstEnergy Corporation by 4.6% during the second quarter. Utah Retirement Systems now owns 81,356 shares of the utilities provider’s stock valued at $2,372,000 after buying an additional 3,600 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in FirstEnergy Corporation by 4.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 975,833 shares of the utilities provider’s stock valued at $28,455,000 after buying an additional 40,642 shares during the period. Hedge funds and other institutional investors own 79.86% of the company’s stock.
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Several research firms recently commented on FE. Evercore ISI upgraded shares of FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and raised their price target for the company from $30.00 to $35.00 in a research report on Monday, August 14th. Deutsche Bank AG restated a “hold” rating and set a $34.00 price target (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Morgan Stanley raised their price target on shares of FirstEnergy Corporation from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Group LLC restated a “hold” rating and set a $33.00 price target (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Finally, ValuEngine upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. FirstEnergy Corporation currently has a consensus rating of “Hold” and an average price target of $33.88.
FirstEnergy Corporation (NYSE FE) opened at 32.21 on Monday. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $34.96. The stock’s market capitalization is $14.31 billion. The firm’s 50-day moving average is $32.22 and its 200 day moving average is $30.70.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The business had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts expect that FirstEnergy Corporation will post $2.82 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.47%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
FirstEnergy Corporation Company 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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