Comerica Bank Sells 3,020 Shares of FirstEnergy (FE)

Comerica Bank decreased its position in shares of FirstEnergy (NYSE:FE) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,655 shares of the utilities provider’s stock after selling 3,020 shares during the quarter. Comerica Bank’s holdings in FirstEnergy were worth $3,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OppenheimerFunds Inc. boosted its position in FirstEnergy by 16.7% during the fourth quarter. OppenheimerFunds Inc. now owns 701,790 shares of the utilities provider’s stock valued at $21,489,000 after purchasing an additional 100,303 shares in the last quarter. TIAA FSB boosted its position in FirstEnergy by 48.1% during the fourth quarter. TIAA FSB now owns 19,364 shares of the utilities provider’s stock valued at $593,000 after purchasing an additional 6,287 shares in the last quarter. Jane Street Group LLC boosted its position in FirstEnergy by 23.4% during the fourth quarter. Jane Street Group LLC now owns 30,853 shares of the utilities provider’s stock valued at $945,000 after purchasing an additional 5,853 shares in the last quarter. PGGM Investments boosted its position in FirstEnergy by 196.2% during the fourth quarter. PGGM Investments now owns 1,234,200 shares of the utilities provider’s stock valued at $37,791,000 after purchasing an additional 817,557 shares in the last quarter. Finally, Banco de Sabadell S.A bought a new stake in FirstEnergy during the fourth quarter valued at about $4,644,000. 79.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of FirstEnergy opened at $33.25 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.46 and a quick ratio of 0.40. The company has a market cap of $16.06 billion, a P/E ratio of 11.38, a P/E/G ratio of 2.33 and a beta of 0.24. FirstEnergy has a twelve month low of $33.42 and a twelve month high of $33.77.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Monday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). FirstEnergy had a negative net margin of 5.33% and a positive return on equity of 22.52%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. The firm’s revenue was down 18.4% compared to the same quarter last year. equities analysts predict that FirstEnergy will post 2.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.33%. The ex-dividend date is Friday, May 4th. FirstEnergy’s payout ratio is currently 46.91%.

FE has been the subject of a number of research analyst reports. ValuEngine cut FirstEnergy from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley increased their price target on FirstEnergy from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, April 16th. Wolfe Research upgraded FirstEnergy from a “peer perform” rating to an “outperform” rating in a research note on Monday, January 29th. UBS initiated coverage on FirstEnergy in a research note on Friday, February 2nd. They issued a “buy” rating and a $39.00 price target for the company. Finally, Bank of America upgraded FirstEnergy from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.09 to $36.00 in a research note on Friday, January 26th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.52.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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