FirstEnergy Corporation (FE) Shares Bought by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. raised its stake in FirstEnergy Corporation (NYSE:FE) by 37.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 224,078 shares of the utilities provider’s stock after buying an additional 61,023 shares during the period. Candriam Luxembourg S.C.A. owned 0.05% of FirstEnergy Corporation worth $6,534,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares in the last quarter. Vanguard Group Inc. boosted its stake in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares in the last quarter. LSV Asset Management boosted its stake in FirstEnergy Corporation by 8.2% in the first quarter. LSV Asset Management now owns 14,052,653 shares of the utilities provider’s stock valued at $447,155,000 after buying an additional 1,065,573 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock valued at $343,698,000 after buying an additional 5,141,450 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in FirstEnergy Corporation by 14.1% in the first quarter. Geode Capital Management LLC now owns 5,209,630 shares of the utilities provider’s stock valued at $165,576,000 after buying an additional 642,687 shares in the last quarter. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Shares of FirstEnergy Corporation (NYSE FE) opened at 32.07 on Friday. The company’s market capitalization is $14.25 billion. The stock has a 50 day moving average price of $30.08 and a 200 day moving average price of $30.27. FirstEnergy Corporation has a 1-year low of $27.93 and a 1-year high of $34.96.

FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. On average, equities analysts anticipate that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio is presently -12.31%.

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Several analysts recently issued reports on FE shares. Deutsche Bank AG reiterated a “hold” rating and set a $34.00 target price (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Barclays PLC reiterated an “overweight” rating and set a $37.00 target price (up previously from $36.00) on shares of FirstEnergy Corporation in a research report on Monday, June 19th. J P Morgan Chase & Co cut FirstEnergy Corporation from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $32.00 in a research report on Monday, May 1st. Morgan Stanley set a $38.00 target price on FirstEnergy Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC dropped their price target on FirstEnergy Corporation from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. FirstEnergy Corporation presently has a consensus rating of “Hold” and a consensus price target of $34.09.

FirstEnergy Corporation Company Profile

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.