Alliancebernstein L.P. decreased its position in FirstEnergy Corp. (NYSE:FE) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 682,582 shares of the utilities provider’s stock after selling 11,678 shares during the quarter. Alliancebernstein L.P. owned 0.15% of FirstEnergy worth $20,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in FE. Baker Ellis Asset Management LLC purchased a new position in shares of FirstEnergy in the 4th quarter worth approximately $122,000. Tower Research Capital LLC TRC boosted its holdings in shares of FirstEnergy by 344.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 3,714 shares during the period. Tiedemann Wealth Management LLC boosted its holdings in shares of FirstEnergy by 170.5% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 14,123 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of FirstEnergy in the 4th quarter worth approximately $228,000. Finally, Farmers Trust Co. purchased a new position in shares of FirstEnergy in the 4th quarter worth approximately $251,000. 78.75% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. UBS assumed coverage on FirstEnergy in a report on Friday, February 2nd. They issued a “buy” rating and a $39.00 target price for the company. Zacks Investment Research upgraded FirstEnergy from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Citigroup dropped their target price on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, January 30th. Bank of America upgraded FirstEnergy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.09 to $36.00 in a report on Friday, January 26th. Finally, Wolfe Research upgraded FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $35.38.
FE traded down $0.41 during trading hours on Thursday, reaching $34.09. 3,010,754 shares of the company’s stock traded hands, compared to its average volume of 7,594,247. FirstEnergy Corp. has a 52-week low of $27.93 and a 52-week high of $35.22. The stock has a market cap of $16,355.53, a P/E ratio of 11.10, a PEG ratio of 14.53 and a beta of 0.26. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 5.38.
FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. FirstEnergy had a positive return on equity of 24.02% and a negative net margin of 12.30%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the business earned $0.38 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. equities analysts anticipate that FirstEnergy Corp. will post 2.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, May 4th. FirstEnergy’s dividend payout ratio is 46.91%.
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FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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