Candriam Luxembourg S.C.A. decreased its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,854 shares of the utilities provider’s stock after selling 11,224 shares during the period. Candriam Luxembourg S.C.A.’s holdings in FirstEnergy Corporation were worth $6,562,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in FE. Vanguard Group Inc. boosted its position in shares of FirstEnergy Corporation by 23.4% during the 2nd quarter. Vanguard Group Inc. now owns 44,375,170 shares of the utilities provider’s stock valued at $1,293,979,000 after purchasing an additional 8,409,439 shares in the last quarter. BlackRock Inc. boosted its holdings in FirstEnergy Corporation by 13.9% in the second quarter. BlackRock Inc. now owns 44,045,492 shares of the utilities provider’s stock worth $1,284,363,000 after acquiring an additional 5,369,241 shares in the last quarter. Brookfield Asset Management Inc. boosted its holdings in FirstEnergy Corporation by 3,345.0% in the second quarter. Brookfield Asset Management Inc. now owns 1,829,980 shares of the utilities provider’s stock worth $53,362,000 after acquiring an additional 1,776,860 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings 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 worth $177,049,000 after acquiring an additional 1,148,955 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in FirstEnergy Corporation by 131.8% in the second quarter. Parametric Portfolio Associates LLC now owns 2,013,626 shares of the utilities provider’s stock worth $58,717,000 after acquiring an additional 1,144,794 shares in the last quarter. Institutional investors own 79.23% of the company’s stock.
Shares of FirstEnergy Corporation (NYSE FE) traded up $0.28 on Monday, hitting $33.88. The company had a trading volume of 3,961,700 shares, compared to its average volume of 4,256,072. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The stock has a market capitalization of $15,071.79, a P/E ratio of 12.41 and a beta of 0.24. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $33.99.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.11. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period last year, the business posted $0.90 earnings per share. sell-side analysts anticipate that FirstEnergy Corporation will post 3.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Monday, November 6th. FirstEnergy Corporation’s payout ratio is -12.31%.
FE has been the topic of several recent research reports. Morgan Stanley set a $39.00 price target on FirstEnergy Corporation and gave the stock a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Monday, September 11th. ValuEngine upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Deutsche Bank AG upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $33.00 price target (up previously from $31.00) on shares of FirstEnergy Corporation in a report on Monday, July 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.39.
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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