Advisory Services Network LLC lifted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,389 shares of the utilities provider’s stock after acquiring an additional 335 shares during the quarter. Advisory Services Network LLC’s holdings in FirstEnergy were worth $99,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ERTS Wealth Advisors LLC purchased a new stake in shares of FirstEnergy during the fourth quarter worth $60,000. First Republic Investment Management Inc. raised its holdings in shares of FirstEnergy by 39.5% during the first quarter. First Republic Investment Management Inc. now owns 15,837 shares of the utilities provider’s stock worth $659,000 after acquiring an additional 4,485 shares in the last quarter. Andra AP fonden purchased a new stake in shares of FirstEnergy during the first quarter worth $7,273,000. National Pension Service raised its holdings in shares of FirstEnergy by 7.7% during the fourth quarter. National Pension Service now owns 549,805 shares of the utilities provider’s stock worth $21,690,000 after acquiring an additional 39,210 shares in the last quarter. Finally, TD Asset Management Inc. raised its holdings in shares of FirstEnergy by 29.3% during the first quarter. TD Asset Management Inc. now owns 749,765 shares of the utilities provider’s stock worth $31,198,000 after acquiring an additional 169,902 shares in the last quarter. 93.74% of the stock is owned by institutional investors and hedge funds.
In other FirstEnergy news, Director Christopher D. Pappas purchased 3,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $41.14 per share, for a total transaction of $123,420.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.
FirstEnergy (NYSE:FE) last issued its quarterly 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). The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.88 billion. FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. Analysts expect that FirstEnergy Corp. will post 2.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, August 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.
Several brokerages recently issued reports on FE. Morgan Stanley reiterated an “underweight” rating and set a C$18.00 price objective on shares of WestJet Airlines in a report on Friday, April 5th. Bank of America set a $57.00 price objective on Lennar and gave the stock a “buy” rating in a report on Thursday, March 28th. Barclays set a €85.00 ($98.84) price objective on Bayer and gave the stock a “buy” rating in a report on Wednesday, March 20th. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, KeyCorp reissued an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. FirstEnergy has a consensus rating of “Buy” and an average price target of $43.13.
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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