Toronto Dominion Bank Grows Position in FirstEnergy Corp. (NYSE:FE)

Toronto Dominion Bank lifted its position in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 43.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 223,828 shares of the utilities provider's stock after acquiring an additional 68,111 shares during the period. Toronto Dominion Bank's holdings in FirstEnergy were worth $9,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in FirstEnergy during the 3rd quarter worth approximately $2,050,000. Coldstream Capital Management Inc. bought a new position in shares of FirstEnergy in the 3rd quarter valued at $267,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of FirstEnergy by 16.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider's stock valued at $8,267,000 after acquiring an additional 26,874 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in FirstEnergy by 25.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 37,907 shares of the utilities provider's stock worth $1,681,000 after acquiring an additional 7,605 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in FirstEnergy by 8.8% in the 3rd quarter. MML Investors Services LLC now owns 25,411 shares of the utilities provider's stock worth $1,127,000 after purchasing an additional 2,059 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analysts Forecast Growth

FE has been the topic of several research reports. Scotiabank upgraded FirstEnergy from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $45.00 to $50.00 in a report on Thursday. Barclays boosted their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Argus raised shares of FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research note on Friday, September 20th. Morgan Stanley reduced their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on FirstEnergy in a research report on Monday, October 14th. They set a "hold" rating and a $46.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, FirstEnergy currently has a consensus rating of "Hold" and a consensus price target of $46.27.

FirstEnergy Stock Down 0.1 %

Shares of NYSE FE traded down $0.05 during trading on Friday, hitting $40.27. 1,622,377 shares of the company traded hands, compared to its average volume of 2,900,637. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 2.17 and a beta of 0.51. The business's fifty day moving average is $42.13 and its 200 day moving average is $41.59. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last posted 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 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 firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. Equities research analysts predict that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.425 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 4.22%. FirstEnergy's payout ratio is 109.68%.

FirstEnergy Profile

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.