Daiwa Securities Group Inc. raised its position in FirstEnergy Corp. (NYSE:FE) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,493 shares of the utilities provider’s stock after purchasing an additional 1,270 shares during the quarter. Daiwa Securities Group Inc.’s holdings in FirstEnergy were worth $1,085,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. HBK Sorce Advisory LLC acquired a new position in shares of FirstEnergy during the second quarter worth $217,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of FirstEnergy by 13.1% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 6,579 shares of the utilities provider’s stock worth $282,000 after purchasing an additional 762 shares in the last quarter. Clean Yield Group grew its stake in shares of FirstEnergy by 1,184.0% during the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of FirstEnergy by 0.4% during the third quarter. Retirement Systems of Alabama now owns 236,469 shares of the utilities provider’s stock worth $11,405,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in FirstEnergy by 165.8% in the second quarter. Point72 Hong Kong Ltd now owns 20,505 shares of the utilities provider’s stock valued at $878,000 after acquiring an additional 12,792 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the stock. Bank of America downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. They noted that the move was a valuation call. Mizuho upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $47.00 to $53.00 in a research note on Monday, November 25th. Citigroup set a $49.00 price objective on shares of FirstEnergy and gave the company a “hold” rating in a research note on Thursday, October 10th. UBS Group restated a “buy” rating and issued a $53.00 price objective (up previously from $52.00) on shares of FirstEnergy in a research note on Monday, November 25th. Finally, ValuEngine cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. FirstEnergy has an average rating of “Hold” and an average target price of $49.63.
NYSE FE traded up $0.45 during trading hours on Wednesday, hitting $48.19. 3,096,275 shares of the stock were exchanged, compared to its average volume of 4,274,080. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 2.67. The stock has a 50-day moving average of $47.55 and a 200 day moving average of $45.44. FirstEnergy Corp. has a 12-month low of $35.33 and a 12-month high of $49.07. The company has a market cap of $25.77 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 3.17 and a beta of 0.18.
FirstEnergy (NYSE:FE) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts expect that FirstEnergy Corp. will post 2.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.15%. FirstEnergy’s dividend payout ratio is presently 58.69%.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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