Capstone Asset Management Co. lowered its position in FirstEnergy Corporation (NYSE:FE) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,864 shares of the utilities provider’s stock after selling 530 shares during the period. Capstone Asset Management Co.’s holdings in FirstEnergy Corporation were worth $1,425,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in FirstEnergy Corporation during the first quarter worth approximately $139,000. Sandy Spring Bank increased its position 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 in the last quarter. Ledyard National Bank purchased a new position in FirstEnergy Corporation during the first quarter worth approximately $174,000. Campbell & CO Investment Adviser LLC purchased a new position in FirstEnergy Corporation during the first quarter worth approximately $215,000. Finally, Tredje AP fonden increased its position in FirstEnergy Corporation by 781,500.0% in the first quarter. Tredje AP fonden now owns 7,816 shares of the utilities provider’s stock worth $249,000 after buying an additional 7,815 shares in the last quarter. 77.85% of the stock is currently owned by institutional investors.
FirstEnergy Corporation (NYSE FE) opened at 30.83 on Thursday. The company’s market capitalization is $13.68 billion. The firm’s 50-day moving average price is $29.49 and its 200-day moving average price is $30.22. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $36.60.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.07. FirstEnergy Corporation had a negative net margin of 44.23% and a positive return on equity of 12.79%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the company posted $0.80 EPS. FirstEnergy Corporation’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts expect that FirstEnergy Corporation will post $2.80 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -9.83%.
FE has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) raised FirstEnergy Corporation from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Thursday, March 23rd. They noted that the move was a valuation call. 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 report on Thursday, June 22nd. Morgan Stanley set a $38.00 target price on FirstEnergy Corporation and gave the stock a “buy” rating in a report on Tuesday, July 4th. Barclays PLC reaffirmed an “equal weight” rating and set a $38.00 target price (up previously from $35.00) on shares of FirstEnergy Corporation in a report on Sunday, April 23rd. Finally, ValuEngine downgraded FirstEnergy Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. FirstEnergy Corporation currently has an average rating of “Hold” and a consensus price target of $33.95.
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.
Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corporation (NYSE:FE).
Receive News & Ratings for FirstEnergy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.