Capital International Inc. CA lifted its position in FirstEnergy Corp. (NYSE:FE - Free Report) by 41.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 322,731 shares of the utilities provider's stock after acquiring an additional 95,078 shares during the quarter. Capital International Inc. CA owned 0.06% of FirstEnergy worth $12,838,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in FE. Sanctuary Advisors LLC increased its stake in FirstEnergy by 21.5% in the third quarter. Sanctuary Advisors LLC now owns 26,508 shares of the utilities provider's stock worth $1,108,000 after purchasing an additional 4,682 shares during the period. Wilmington Savings Fund Society FSB increased its stake in FirstEnergy by 361.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 24,834 shares of the utilities provider's stock worth $1,101,000 after buying an additional 19,457 shares during the period. Franklin Resources Inc. lifted its holdings in FirstEnergy by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider's stock valued at $153,081,000 after buying an additional 34,151 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in FirstEnergy by 15.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 33,532 shares of the utilities provider's stock valued at $1,479,000 after buying an additional 4,503 shares during the period. Finally, Principal Financial Group Inc. grew its stake in FirstEnergy by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 617,768 shares of the utilities provider's stock worth $27,398,000 after acquiring an additional 30,769 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.
FirstEnergy Stock Down 0.4 %
Shares of FE traded down $0.16 during midday trading on Friday, hitting $42.12. 2,032,551 shares of the company's stock traded hands, compared to its average volume of 3,546,667. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. FirstEnergy Corp. has a 1 year low of $37.58 and a 1 year high of $44.97. The firm's fifty day moving average is $40.16 and its 200-day moving average is $40.70.
FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. As a group, sell-side analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current year.
FirstEnergy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. The ex-dividend date is Wednesday, May 7th. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.23%. FirstEnergy's payout ratio is 104.71%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Wolfe Research lowered FirstEnergy from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 23rd. Bank of America raised FirstEnergy from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $42.00 to $45.00 in a research report on Wednesday. Guggenheim lifted their price objective on FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a report on Monday, April 7th. Morgan Stanley reaffirmed an "overweight" rating on shares of FirstEnergy in a research note on Wednesday. Finally, Scotiabank restated an "outperform" rating on shares of FirstEnergy in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $45.58.
Read Our Latest Research Report on FE
About FirstEnergy
(
Free Report)
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.
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