Candriam Luxembourg S.C.A. increased its position in shares of FirstEnergy Corporation (NYSE:FE) by 37.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 approximately 0.05% of FirstEnergy Corporation worth $6,534,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new stake in FirstEnergy Corporation during the first quarter worth about $139,000. City Holding Co. raised its stake in FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock worth $153,000 after buying an additional 400 shares during the last quarter. Sandy Spring Bank raised its stake in FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock worth $161,000 after buying an additional 97 shares during the last quarter. Ledyard National Bank bought a new stake in FirstEnergy Corporation during the first quarter worth about $174,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in FirstEnergy Corporation during the first quarter worth about $215,000. 78.75% of the stock is currently owned by hedge funds and other institutional investors.
FirstEnergy Corporation (NYSE FE) traded down 0.03% on Wednesday, hitting $32.69. 3,787,052 shares of the company were exchanged. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96. The stock has a 50 day moving average price of $30.80 and a 200 day moving average price of $30.41. The firm’s market cap is $14.52 billion.
FirstEnergy Corporation (NYSE:FE) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ 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 firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities research analysts forecast that FirstEnergy Corporation will post $2.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
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A number of equities research analysts recently issued reports on FE shares. Zacks Investment Research raised FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, June 22nd. Morgan Stanley set a $38.00 target price on FirstEnergy Corporation and gave the company a “buy” rating in a research note on Tuesday, July 4th. ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Barclays PLC reiterated an “equal weight” rating and issued a $38.00 price target (up from $35.00) on shares of FirstEnergy Corporation in a report on Sunday, April 23rd. Finally, Jefferies Group LLC cut their price target on FirstEnergy Corporation from $32.00 to $31.00 and set a “hold” rating for the company in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $33.80.
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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