Great Valley Advisor Group Inc. bought a new stake in FirstEnergy Corp. (NYSE:FE) during the first quarter, Holdings Channel reports. The fund bought 4,982 shares of the utilities provider’s stock, valued at approximately $207,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of FE. Kaizen Advisory LLC grew its stake in FirstEnergy by 23.6% during the fourth quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock worth $50,000 after buying an additional 254 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in FirstEnergy by 1.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 16,417 shares of the utilities provider’s stock worth $618,000 after buying an additional 255 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in FirstEnergy by 0.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 70,598 shares of the utilities provider’s stock worth $2,651,000 after buying an additional 283 shares during the last quarter. Investors Research Corp grew its stake in FirstEnergy by 1.2% during the fourth quarter. Investors Research Corp now owns 25,016 shares of the utilities provider’s stock worth $939,000 after buying an additional 300 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its stake in FirstEnergy by 13.7% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,499 shares of the utilities provider’s stock worth $94,000 after buying an additional 302 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE FE opened at $41.48 on Monday. FirstEnergy Corp. has a fifty-two week low of $32.92 and a fifty-two week high of $42.13. The company has a market capitalization of $22.04 billion, a P/E ratio of 16.02 and a beta of 0.30. The company has a current ratio of 0.54, a quick ratio of 0.46 and a debt-to-equity ratio of 2.72.
FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Research analysts predict that FirstEnergy Corp. will post 2.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.38 dividend. The ex-dividend date is Monday, May 6th. This represents a $1.52 annualized dividend and a yield of 3.66%. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.
FE has been the topic of a number of research reports. Bank of America upped their target price on shares of FirstEnergy from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, March 4th. Morgan Stanley set a $44.00 target price on shares of FirstEnergy and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $46.00 in a research report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. FirstEnergy currently has a consensus rating of “Buy” and a consensus price target of $42.86.
In other FirstEnergy news, EVP Leila L. Vespoli sold 24,400 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $41.33, for a total value of $1,008,452.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.
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FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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