ARP Americas LP acquired a new position in FirstEnergy Corp. (NYSE:FE) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 35,334 shares of the utilities provider’s stock, valued at approximately $1,470,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. ERTS Wealth Advisors LLC purchased a new stake in FirstEnergy in the fourth quarter worth about $60,000. First Republic Investment Management Inc. lifted its holdings in FirstEnergy by 39.5% in the first quarter. First Republic Investment Management Inc. now owns 15,837 shares of the utilities provider’s stock worth $659,000 after buying an additional 4,485 shares during the period. Nkcfo LLC purchased a new stake in FirstEnergy in the fourth quarter worth about $246,000. Huntington National Bank lifted its holdings in FirstEnergy by 18.9% in the fourth quarter. Huntington National Bank now owns 11,612 shares of the utilities provider’s stock worth $436,000 after buying an additional 1,848 shares during the period. Finally, National Pension Service lifted its holdings in FirstEnergy by 7.7% in the fourth quarter. National Pension Service now owns 549,805 shares of the utilities provider’s stock worth $21,690,000 after buying an additional 39,210 shares during the period. Institutional investors and hedge funds own 92.23% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Bank of America lifted their target price on shares of FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $46.00 in a report on Wednesday, March 20th. Finally, Morgan Stanley set a $44.00 target price on shares of FirstEnergy and gave the company a “buy” rating in a report on Friday, April 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $42.86.
FE stock opened at $42.86 on Friday. FirstEnergy Corp. has a 52-week low of $32.92 and a 52-week high of $43.24. The company has a market cap of $22.78 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.73 and a beta of 0.30. The company has a quick ratio of 0.47, a current ratio of 0.54 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 Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the business posted $0.67 earnings per share. FirstEnergy’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts predict that FirstEnergy Corp. will post 2.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.55%. FirstEnergy’s payout ratio is 58.69%.
In other news, EVP Leila L. Vespoli sold 24,400 shares of FirstEnergy stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $41.33, for a total transaction of $1,008,452.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.
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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