Vestcor Inc raised its position in FirstEnergy Corporation (NYSE:FE - Free Report) by 38.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,594 shares of the utilities provider's stock after acquiring an additional 6,263 shares during the period. Vestcor Inc's holdings in FirstEnergy were worth $913,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in FE. Covestor Ltd raised its stake in FirstEnergy by 69.3% during the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after acquiring an additional 255 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in FirstEnergy during the first quarter worth $27,000. TruNorth Capital Management LLC grew its position in FirstEnergy by 226.9% during the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after acquiring an additional 490 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in FirstEnergy during the 4th quarter worth approximately $31,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in FirstEnergy during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 89.41% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on FE shares. Morgan Stanley decreased their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Guggenheim increased their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. KeyCorp reaffirmed an "overweight" rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, FirstEnergy presently has a consensus rating of "Hold" and a consensus target price of $46.08.
Check Out Our Latest Report on FE
Insider Buying and Selling
In other news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the transaction, the chief accounting officer directly owned 183 shares in the company, valued at $7,680.51. The trade was a 98.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jon Taylor K. sold 12,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total value of $516,360.00. Following the sale, the chief financial officer owned 99,919 shares in the company, valued at $4,299,514.57. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.
FirstEnergy Stock Up 1.5%
Shares of FE stock traded up $0.64 on Monday, reaching $43.83. 4,202,400 shares of the company were exchanged, compared to its average volume of 4,026,771. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.65 and a beta of 0.48. The company has a 50-day moving average of $40.72 and a 200-day moving average of $40.67. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.97.
FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the business earned $0.56 EPS. Analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current year.
FirstEnergy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 7th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, August 7th. FirstEnergy's payout ratio is currently 78.76%.
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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