Edgestream Partners L.P. raised its position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 419.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,206 shares of the utilities provider's stock after acquiring an additional 36,498 shares during the period. Edgestream Partners L.P.'s holdings in FirstEnergy were worth $1,798,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of FirstEnergy by 2.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider's stock valued at $371,911,000 after buying an additional 220,433 shares during the period. Franklin Resources Inc. boosted its stake in shares of FirstEnergy by 1.0% in the third quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider's stock valued at $153,081,000 after buying an additional 34,151 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of FirstEnergy by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,402,070 shares of the utilities provider's stock valued at $135,334,000 after buying an additional 105,408 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of FirstEnergy by 7.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider's stock valued at $104,057,000 after buying an additional 171,955 shares during the period. Finally, Swiss National Bank boosted its stake in shares of FirstEnergy by 0.3% in the third quarter. Swiss National Bank now owns 1,622,544 shares of the utilities provider's stock valued at $71,960,000 after buying an additional 5,500 shares during the period. Institutional investors own 89.41% of the company's stock.
FirstEnergy Trading Up 1.6 %
NYSE FE traded up $0.65 on Friday, reaching $39.79. The company had a trading volume of 4,587,631 shares, compared to its average volume of 3,081,035. The firm has a market cap of $22.94 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a fifty-two week low of $36.81 and a fifty-two week high of $44.97. The business has a 50 day moving average of $39.91 and a two-hundred day moving average of $41.50. 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 posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.03). The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. Analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current year.
FirstEnergy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were given a dividend of $0.425 per share. The ex-dividend date was Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.27%. FirstEnergy's dividend payout ratio (DPR) is currently 100.00%.
Analyst Ratings Changes
FE has been the subject of several recent research reports. Wolfe Research cut FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. KeyCorp cut their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Scotiabank cut their target price on FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company cut their target price on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley cut their target price on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $45.33.
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About FirstEnergy
(
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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