Fifth Third Bancorp trimmed its stake in shares of FirstEnergy Corp. (NYSE:FE – Free Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,050 shares of the utilities provider’s stock after selling 1,212 shares during the period. Fifth Third Bancorp’s holdings in FirstEnergy were worth $1,633,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in shares of FirstEnergy during the 3rd quarter valued at about $26,000. True Wealth Design LLC boosted its holdings in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in FirstEnergy during the second quarter valued at approximately $32,000. Quarry LP increased its holdings in FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after buying an additional 320 shares during the last quarter. Finally, UMB Bank n.a. raised its position in FirstEnergy by 48.4% in the third quarter. UMB Bank n.a. now owns 997 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 325 shares during the period. Institutional investors own 89.41% of the company’s stock.
Analysts Set New Price Targets
FE has been the subject of several analyst reports. Barclays upped their price objective on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Seaport Res Ptn cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley lowered their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. KeyCorp reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Finally, Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.27.
FirstEnergy Trading Down 1.7 %
FirstEnergy stock opened at $40.20 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The firm’s 50 day moving average price is $40.34 and its 200-day moving average price is $41.83. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97. The stock has a market cap of $23.17 billion, a P/E ratio of 25.93, a PEG ratio of 1.97 and a beta of 0.52.
FirstEnergy (NYSE:FE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.
FirstEnergy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.23%. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.
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