Electron Capital Partners LLC lessened its holdings in FirstEnergy Corp. (NYSE:FE) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,018,362 shares of the utilities provider’s stock after selling 25,896 shares during the period. FirstEnergy comprises approximately 10.4% of Electron Capital Partners LLC’s portfolio, making the stock its 2nd biggest position. Electron Capital Partners LLC’s holdings in FirstEnergy were worth $61,802,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of FE. Swiss National Bank boosted its position in shares of FirstEnergy by 1.3% in the third quarter. Swiss National Bank now owns 1,633,781 shares of the utilities provider’s stock worth $50,369,000 after buying an additional 21,600 shares during the period. Global X MANAGEMENT CO LLC boosted its position in FirstEnergy by 3.2% during the third quarter. Global X MANAGEMENT CO LLC now owns 282,179 shares of the utilities provider’s stock valued at $8,700,000 after purchasing an additional 8,658 shares during the last quarter. FDx Advisors Inc. boosted its position in FirstEnergy by 9.8% during the third quarter. FDx Advisors Inc. now owns 60,391 shares of the utilities provider’s stock valued at $1,862,000 after purchasing an additional 5,415 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in FirstEnergy by 40.1% during the third quarter. BNP Paribas Arbitrage SA now owns 382,585 shares of the utilities provider’s stock valued at $11,795,000 after purchasing an additional 109,579 shares during the last quarter. Finally, Sei Investments Co. boosted its position in FirstEnergy by 37.8% during the third quarter. Sei Investments Co. now owns 100,917 shares of the utilities provider’s stock valued at $3,111,000 after purchasing an additional 27,659 shares during the last quarter. 78.77% of the stock is owned by institutional investors and hedge funds.
FirstEnergy Corp. (NYSE FE) opened at $32.65 on Monday. FirstEnergy Corp. has a 1-year low of $27.93 and a 1-year high of $35.22. The company has a current ratio of 0.76, a quick ratio of 0.65 and a debt-to-equity ratio of 5.38. The firm has a market capitalization of $15,528.01, a PE ratio of 10.67, a price-to-earnings-growth ratio of 13.67 and a beta of 0.34.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 6th. This represents a $1.44 annualized dividend and a yield of 4.41%. FirstEnergy’s dividend payout ratio (DPR) is currently -37.11%.
A number of analysts recently issued reports on the company. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. UBS Group assumed coverage on FirstEnergy in a research report on Friday, February 2nd. They set a “buy” rating and a $39.00 price objective for the company. Zacks Investment Research raised FirstEnergy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Citigroup reduced their price objective on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. Finally, Bank of America raised FirstEnergy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $32.09 to $36.00 in a research report on Friday, January 26th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. FirstEnergy presently has an average rating of “Buy” and an average price target of $35.29.
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FirstEnergy 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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