Trexquant Investment LP lessened its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 61.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,327 shares of the utilities provider's stock after selling 183,367 shares during the period. Trexquant Investment LP's holdings in FirstEnergy were worth $4,667,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of FE. HighTower Advisors LLC raised its holdings in FirstEnergy by 5.2% during the 3rd quarter. HighTower Advisors LLC now owns 146,982 shares of the utilities provider's stock valued at $6,530,000 after acquiring an additional 7,215 shares during the period. Janus Henderson Group PLC raised its stake in shares of FirstEnergy by 17.5% during the third quarter. Janus Henderson Group PLC now owns 61,697 shares of the utilities provider's stock valued at $2,736,000 after acquiring an additional 9,200 shares during the last quarter. Investment Management Corp of Ontario increased its stake in shares of FirstEnergy by 49.4% during the third quarter. Investment Management Corp of Ontario now owns 18,147 shares of the utilities provider's stock valued at $805,000 after buying an additional 6,000 shares during the period. Integrated Wealth Concepts LLC raised its stake in FirstEnergy by 14.4% in the third quarter. Integrated Wealth Concepts LLC now owns 7,711 shares of the utilities provider's stock worth $342,000 after buying an additional 970 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in FirstEnergy by 12.7% in the third quarter. IHT Wealth Management LLC now owns 10,531 shares of the utilities provider's stock worth $468,000 after purchasing an additional 1,187 shares during the period. Institutional investors own 89.41% of the company's stock.
FirstEnergy Price Performance
FirstEnergy stock traded down $0.13 during mid-day trading on Thursday, reaching $39.26. The company had a trading volume of 1,362,447 shares, compared to its average volume of 5,346,665. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The company has a market capitalization of $22.64 billion, a P/E ratio of 25.34, a P/E/G ratio of 2.07 and a beta of 0.41. FirstEnergy Corp. has a 1 year low of $36.81 and a 1 year high of $44.97. The stock's 50-day simple moving average is $39.86 and its 200-day simple moving average is $40.85.
FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.53 billion. On average, equities analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.
FirstEnergy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 4.53%. This is a boost from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. FirstEnergy's dividend payout ratio (DPR) is presently 104.71%.
Analysts Set New Price Targets
FE has been the subject of a number of research analyst reports. UBS Group lifted their target price on FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Morgan Stanley lowered their target price on FirstEnergy from $52.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Scotiabank dropped their target price on shares of FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating for the company in a report on Friday, February 28th. Wolfe Research downgraded FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Finally, Guggenheim lifted their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy currently has a consensus rating of "Hold" and an average target price of $45.15.
Get Our Latest Stock Analysis on FirstEnergy
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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