Cookson Peirce & Co. Inc. lifted its stake in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 290,345 shares of the utilities provider’s stock after buying an additional 1,508 shares during the period. Cookson Peirce & Co. Inc.’s holdings in FirstEnergy were worth $10,743,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of FirstEnergy in the 3rd quarter valued at approximately $27,000. SJS Investment Consulting Inc. acquired a new position in FirstEnergy during the third quarter valued at approximately $30,000. MUFG Americas Holdings Corp bought a new stake in FirstEnergy during the third quarter worth $32,000. Neo Ivy Capital Management acquired a new stake in shares of FirstEnergy in the 2nd quarter valued at $36,000. Finally, Horan Securities Inc. increased its stake in shares of FirstEnergy by 99.0% in the 3rd quarter. Horan Securities Inc. now owns 995 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 495 shares during the last quarter. Institutional investors own 81.80% of the company’s stock.
Wall Street Analysts Forecast Growth
FE has been the subject of several recent analyst reports. StockNews.com initiated coverage on FirstEnergy in a research report on Wednesday, October 12th. They set a “hold” rating for the company. KeyCorp lowered their price objective on shares of FirstEnergy from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Morgan Stanley raised their target price on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. Guggenheim upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $46.00 in a report on Monday, January 23rd. Finally, Bank of America lowered FirstEnergy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $41.00 to $38.00 in a research report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.13.
FirstEnergy Trading Down 0.3 %
FirstEnergy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 7th will be given a $0.39 dividend. The ex-dividend date of this dividend is Monday, February 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.82%. FirstEnergy’s dividend payout ratio (DPR) is currently 71.23%.
FirstEnergy Company Profile
FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate. The Regulated Distribution segment distributes electricity through FirstEnergy’s utility operating companies, serving various customers.
- Get a free copy of the StockNews.com research report on FirstEnergy (FE)
- Old Dominion Freight Line Driving To New Highs
- AMD Results Are No Reason To Buy Semiconductors… Yet
- Institutions are Buying up Procter & Gamble Shares, Should you?
- How Do Lawsuits Affect Johnson & Johnson’s Stock Price?
- Has The Salesforce Turnaround Begun?
Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE – Get Rating).
Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.