Becker Capital Management Inc. decreased its holdings in FirstEnergy Corp. (NYSE:FE) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,081 shares of the utilities provider’s stock after selling 38,413 shares during the period. Becker Capital Management Inc. owned about 0.21% of FirstEnergy worth $39,106,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of FE. Banco de Sabadell S.A grew its holdings in shares of FirstEnergy by 0.9% in the second quarter. Banco de Sabadell S.A now owns 152,375 shares of the utilities provider’s stock worth $5,493,000 after acquiring an additional 1,401 shares during the period. Synovus Financial Corp grew its holdings in shares of FirstEnergy by 6.8% in the third quarter. Synovus Financial Corp now owns 22,477 shares of the utilities provider’s stock worth $832,000 after acquiring an additional 1,434 shares during the period. World Asset Management Inc grew its holdings in shares of FirstEnergy by 5.3% in the third quarter. World Asset Management Inc now owns 31,834 shares of the utilities provider’s stock worth $1,183,000 after acquiring an additional 1,616 shares during the period. Beese Fulmer Investment Management Inc. grew its holdings in shares of FirstEnergy by 15.1% in the second quarter. Beese Fulmer Investment Management Inc. now owns 13,697 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 1,800 shares during the period. Finally, WINTON GROUP Ltd grew its holdings in shares of FirstEnergy by 27.8% in the third quarter. WINTON GROUP Ltd now owns 8,539 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 1,857 shares during the period. 89.79% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on the company. TheStreet raised FirstEnergy from a “c+” rating to a “b” rating in a report on Tuesday, July 31st. Howard Weil assumed coverage on FirstEnergy in a report on Tuesday, July 24th. They issued a “sector outperform” rating and a $39.00 price objective for the company. Morgan Stanley lifted their price objective on FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Barclays began coverage on FirstEnergy in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Bank of America lifted their target price on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 29th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. FirstEnergy currently has a consensus rating of “Buy” and an average price target of $39.90.
NYSE FE opened at $37.46 on Wednesday. The firm has a market cap of $18.98 billion, a P/E ratio of 12.20, a P/E/G ratio of 2.44 and a beta of 0.24. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 2.44. FirstEnergy Corp. has a fifty-two week low of $29.33 and a fifty-two week high of $39.01.
FirstEnergy (NYSE:FE) last released its earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.09. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.82 billion. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. On average, equities research analysts anticipate that FirstEnergy Corp. will post 2.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.44 annualized dividend and a yield of 3.84%. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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