B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in FirstEnergy Corp. (NYSE:FE - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,301 shares of the utilities provider's stock, valued at approximately $590,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. O Shaughnessy Asset Management LLC boosted its position in shares of FirstEnergy by 71.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,399 shares of the utilities provider's stock valued at $865,000 after purchasing an additional 9,372 shares in the last quarter. Bessemer Group Inc. grew its position in FirstEnergy by 3.6% in the first quarter. Bessemer Group Inc. now owns 9,139 shares of the utilities provider's stock worth $353,000 after buying an additional 315 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of FirstEnergy in the first quarter valued at $325,000. Dynasty Wealth Management LLC acquired a new stake in shares of FirstEnergy during the 1st quarter valued at $617,000. Finally, Tidal Investments LLC boosted its stake in shares of FirstEnergy by 8.4% during the 1st quarter. Tidal Investments LLC now owns 13,083 shares of the utilities provider's stock worth $505,000 after acquiring an additional 1,019 shares in the last quarter. Institutional investors own 89.41% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on FE shares. Argus raised FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Friday, September 20th. Jefferies Financial Group started coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a "hold" rating and a $46.00 target price for the company. Morgan Stanley dropped their price target on shares of FirstEnergy from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday. KeyCorp lifted their price objective on FirstEnergy from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Seaport Res Ptn lowered FirstEnergy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $45.91.
Check Out Our Latest Research Report on FE
FirstEnergy Price Performance
Shares of FirstEnergy stock traded up $0.25 during midday trading on Monday, hitting $42.04. 2,557,465 shares of the company were exchanged, compared to its average volume of 2,942,487. The firm has a 50 day simple moving average of $42.83 and a 200-day simple moving average of $41.47. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97. The firm has a market cap of $24.23 billion, a P/E ratio of 27.12, a PEG ratio of 2.25 and a beta of 0.51. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.
FirstEnergy (NYSE:FE - Get Free Report) last announced its 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). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. Research analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current year.
FirstEnergy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Thursday, November 7th. FirstEnergy's dividend payout ratio is currently 109.68%.
FirstEnergy Profile
(
Free Report)
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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