BNP Paribas Arbitrage SA Grows Holdings in FirstEnergy Corporation (FE)

BNP Paribas Arbitrage SA raised its stake in shares of FirstEnergy Corporation (NYSE:FE) by 40.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 382,585 shares of the utilities provider’s stock after purchasing an additional 109,579 shares during the period. BNP Paribas Arbitrage SA owned 0.09% of FirstEnergy Corporation worth $11,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of FirstEnergy Corporation by 23.4% in 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 acquiring an additional 8,409,439 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of FirstEnergy Corporation by 13.9% in the 2nd quarter. BlackRock Inc. now owns 44,045,492 shares of the utilities provider’s stock valued at $1,284,363,000 after acquiring an additional 5,369,241 shares during the last quarter. LSV Asset Management lifted its holdings in shares of FirstEnergy Corporation by 2.7% in the 2nd quarter. LSV Asset Management now owns 14,438,631 shares of the utilities provider’s stock valued at $421,030,000 after acquiring an additional 385,978 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of FirstEnergy Corporation by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,546,862 shares of the utilities provider’s stock valued at $336,706,000 after acquiring an additional 745,495 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of FirstEnergy Corporation by 23.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,071,635 shares of the utilities provider’s stock valued at $177,049,000 after acquiring an additional 1,148,955 shares during the last quarter. 79.23% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Corporation (FE) opened at $34.21 on Tuesday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.50. The stock has a market cap of $15,071.79, a P/E ratio of 12.41 and a beta of 0.24.

FirstEnergy Corporation (NYSE:FE) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.11. FirstEnergy Corporation had a negative net margin of 35.99% and a positive return on equity of 19.29%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm earned $0.90 earnings per share. analysts predict that FirstEnergy Corporation will post 3.02 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.21%. FirstEnergy Corporation’s dividend payout ratio is presently -12.31%.

FE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. KeyCorp reissued a “hold” rating on shares of FirstEnergy Corporation in a research report on Friday, October 20th. Evercore ISI raised shares of FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $35.00 in a research report on Monday, August 14th. Deutsche Bank AG reissued a “hold” rating and issued a $34.00 price objective (up from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Finally, Bank of America Corporation initiated coverage on shares of FirstEnergy Corporation in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. FirstEnergy Corporation currently has a consensus rating of “Hold” and an average price target of $34.39.

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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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Institutional Ownership by Quarter for FirstEnergy Corporation (NYSE:FE)

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