Nykredit A S Purchases Shares of 21,724 FirstEnergy Corporation $FE

Key Points

• Nykredit A/S acquired 21,724 FirstEnergy shares during the second quarter, valued at approximately $1.03 million. Institutional investors collectively own 89.41% of the company.
• FirstEnergy reported quarterly revenue of $3.68 billion and adjusted earnings of $0.50 per share, matching analysts’ EPS expectations while exceeding revenue estimates.
• The company pays a quarterly dividend of $0.465 per share, equivalent to an annualized $1.86 dividend and a 4.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $52.83.

Nykredit A S purchased a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,724 shares of the utilities provider's stock, valued at approximately $1,033,000.

A number of other large investors also recently modified their holdings of the company. Axiom Investment Management LLC acquired a new stake in FirstEnergy during the 1st quarter worth approximately $26,000. State of Wyoming purchased a new position in FirstEnergy in the second quarter valued at approximately $25,000. Western Wealth Management LLC acquired a new position in FirstEnergy during the first quarter valued at approximately $37,000. DV Equities LLC acquired a new position in FirstEnergy during the fourth quarter valued at approximately $33,000. Finally, Pinnacle Bancorp Inc. lifted its position in FirstEnergy by 44.4% during the first quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock valued at $38,000 after buying an additional 232 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

NYSE FE opened at $46.77 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88. FirstEnergy Corporation has a fifty-two week low of $42.87 and a fifty-two week high of $52.34. The business has a 50 day moving average price of $47.72 and a two-hundred day moving average price of $48.20. The stock has a market cap of $27.06 billion, a PE ratio of 24.88, a P/E/G ratio of 2.70 and a beta of 0.45.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, sell-side analysts predict that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were paid a dividend of $0.465 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 4.0%. FirstEnergy's payout ratio is 98.94%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FE. TD Cowen raised shares of FirstEnergy from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $56.00 to $53.00 in a research report on Friday, May 15th. Weiss Ratings lowered shares of FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 17th. UBS Group upped their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Barclays lowered their price target on FirstEnergy from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Finally, Wall Street Zen lowered FirstEnergy from a "hold" rating to a "sell" rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.83.

FirstEnergy Profile

FirstEnergy Corp. NYSE: FE is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company's primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy's service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy's core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.