Dai ichi Life Insurance Company Ltd decreased its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 45.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,224 shares of the utilities provider's stock after selling 20,000 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in FirstEnergy were worth $1,074,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. raised its position in FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider's stock worth $26,000 after acquiring an additional 615 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in FirstEnergy in the third quarter valued at $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in FirstEnergy in the second quarter valued at $32,000. West Oak Capital LLC acquired a new stake in FirstEnergy in the second quarter valued at $38,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in FirstEnergy in the second quarter valued at $38,000. Hedge funds and other institutional investors own 89.41% of the company's stock.
FirstEnergy Trading Up 0.8 %
Shares of FE traded up $0.34 during mid-day trading on Thursday, hitting $42.62. The company had a trading volume of 2,217,297 shares, compared to its average volume of 2,934,371. FirstEnergy Corp. has a 1-year low of $35.41 and a 1-year high of $44.97. The business's 50-day simple moving average is $42.77 and its 200-day simple moving average is $41.50. The stock has a market cap of $24.56 billion, a PE ratio of 27.50, a P/E/G ratio of 2.27 and a beta of 0.51. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.
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 for the quarter, missing analysts' consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm'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. Sell-side analysts forecast that FirstEnergy Corp. will post 2.68 earnings per share for the current year.
FirstEnergy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.99%. FirstEnergy's dividend payout ratio (DPR) is 109.68%.
Analyst Upgrades and Downgrades
FE has been the topic of several research reports. Morgan Stanley lowered their target price on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Scotiabank upped their target price on FirstEnergy from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. Seaport Res Ptn lowered FirstEnergy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Bank of America upped their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Finally, Barclays increased their price objective on FirstEnergy from $40.00 to $46.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy presently has an average rating of "Hold" and an average price target of $45.91.
View Our Latest Stock Analysis on FE
FirstEnergy Company 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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