Anderson Fisher LLC lessened its stake in FirstEnergy Corp. (NYSE:FE) by 20.2% in the first quarter, Holdings Channel reports. The fund owned 1,058 shares of the utilities provider’s stock after selling 268 shares during the period. Anderson Fisher LLC’s holdings in FirstEnergy were worth $44,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its holdings in FirstEnergy by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 58,780,161 shares of the utilities provider’s stock valued at $2,184,859,000 after buying an additional 2,480,578 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in FirstEnergy in the 4th quarter valued at $158,000. Capital Investment Advisory Services LLC acquired a new position in FirstEnergy in the 4th quarter valued at $52,000. CIBC Private Wealth Group LLC grew its holdings in FirstEnergy by 1,433.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 109,087 shares of the utilities provider’s stock valued at $4,096,000 after buying an additional 101,971 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in FirstEnergy by 4.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 17,950 shares of the utilities provider’s stock valued at $674,000 after buying an additional 700 shares in the last quarter. 93.81% of the stock is owned by institutional investors.
FE opened at $43.37 on Thursday. The firm has a market cap of $22.86 billion, a PE ratio of 16.75, a P/E/G ratio of 2.78 and a beta of 0.29. FirstEnergy Corp. has a 52-week low of $33.22 and a 52-week high of $44.11. The company has a current ratio of 0.54, a quick ratio of 0.47 and a debt-to-equity ratio of 2.72.
FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.01). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.88 billion. FirstEnergy had a return on equity of 21.90% and a net margin of 2.63%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Equities analysts forecast that FirstEnergy Corp. will post 2.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were given a dividend of $0.38 per share. The ex-dividend date was Monday, May 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.50%. FirstEnergy’s dividend payout ratio is currently 58.69%.
In other FirstEnergy news, Director Christopher D. Pappas acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average cost of $41.14 per share, for a total transaction of $123,420.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.
FE has been the topic of several analyst reports. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, March 4th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $46.00 in a report on Wednesday, March 20th. Bank of America increased their target price on FirstEnergy from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Morgan Stanley set a $44.00 target price on FirstEnergy and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, KeyCorp reissued an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a report on Wednesday, June 5th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.25.
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.
Featured Story: Cost of Debt
Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE).
Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.