IFM Investors Pty Ltd lifted its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 58.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 55,764 shares of the utilities provider’s stock after acquiring an additional 20,660 shares during the period. IFM Investors Pty Ltd’s holdings in FirstEnergy were worth $2,689,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Pearl River Capital LLC acquired a new position in FirstEnergy during the 2nd quarter worth approximately $25,000. Clean Yield Group grew its stake in shares of FirstEnergy by 1,184.0% in the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the last quarter. Horan Securities Inc. bought a new stake in shares of FirstEnergy in the second quarter worth about $28,000. Meeder Asset Management Inc. grew its stake in shares of FirstEnergy by 805.3% in the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 604 shares during the last quarter. Finally, Doyle Wealth Management bought a new stake in shares of FirstEnergy in the second quarter worth about $34,000. 94.22% of the stock is owned by institutional investors.
FE stock opened at $47.11 on Thursday. The company has a market capitalization of $25.92 billion, a P/E ratio of 18.19, a PEG ratio of 3.14 and a beta of 0.18. The company has a 50-day simple moving average of $47.99 and a 200 day simple moving average of $44.69. FirstEnergy Corp. has a fifty-two week low of $35.33 and a fifty-two week high of $49.07. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 2.63.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. FirstEnergy had a net margin of 10.49% and a return on equity of 19.42%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the previous year, the business earned $0.80 earnings per share. FirstEnergy’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts anticipate that FirstEnergy Corp. will post 2.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 6th. This represents a $1.52 annualized dividend and a yield of 3.23%. FirstEnergy’s payout ratio is presently 58.69%.
Several research firms have weighed in on FE. Citigroup set a $49.00 price objective on FirstEnergy and gave the company a “hold” rating in a research report on Thursday, October 10th. KeyCorp boosted their price target on shares of FirstEnergy from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Bank of America downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. They noted that the move was a valuation call. TheStreet downgraded shares of FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. Finally, Mizuho downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $48.50 in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $48.50.
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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