Mn Services Vermogensbeheer B.V. increased its stake in shares of FirstEnergy Corporation (NYSE:FE) by 529.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 71,431 shares of the utilities provider’s stock after buying an additional 60,077 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in FirstEnergy Corporation were worth $2,083,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of FE. Highbridge Capital Management LLC boosted its position in shares of FirstEnergy Corporation by 19.5% in the fourth quarter. Highbridge Capital Management LLC now owns 971,358 shares of the utilities provider’s stock valued at $30,083,000 after buying an additional 158,845 shares during the period. BP PLC bought a new stake in FirstEnergy Corporation during the first quarter worth about $1,591,000. Washington Trust Bank raised its stake in FirstEnergy Corporation by 522.0% in the first quarter. Washington Trust Bank now owns 13,534 shares of the utilities provider’s stock worth $431,000 after buying an additional 11,358 shares during the period. Achmea Investment Management B.V. bought a new stake in FirstEnergy Corporation during the first quarter worth about $2,387,000. Finally, Northpointe Capital LLC raised its stake in FirstEnergy Corporation by 23.0% in the first quarter. Northpointe Capital LLC now owns 127,080 shares of the utilities provider’s stock worth $4,044,000 after buying an additional 23,752 shares during the period. 78.11% of the stock is owned by institutional investors and hedge funds.
Shares of FirstEnergy Corporation (FE) opened at 32.07 on Monday. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.96. The stock’s 50 day moving average is $30.08 and its 200-day moving average is $30.27. The firm’s market capitalization is $14.25 billion.
FirstEnergy Corporation (NYSE:FE) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts forecast that FirstEnergy Corporation will post $2.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend 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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A number of equities research analysts have recently issued reports on FE shares. Zacks Investment Research upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Thursday, June 22nd. Morgan Stanley set a $38.00 price target on FirstEnergy Corporation and gave the company a “buy” rating in a research report on Tuesday, July 4th. Barclays PLC restated an “equal weight” rating and issued a $38.00 price target (up from $35.00) on shares of FirstEnergy Corporation in a research report on Sunday, April 23rd. 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 report on Monday, May 1st. Finally, ValuEngine lowered FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average 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.
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