Douglass Winthrop Advisors LLC Sells 23,900 Shares of FirstEnergy (FE)

Douglass Winthrop Advisors LLC reduced its stake in shares of FirstEnergy (NYSE:FE) by 78.2% in the first quarter, Holdings Channel reports. The institutional investor owned 6,660 shares of the utilities provider’s stock after selling 23,900 shares during the period. Douglass Winthrop Advisors LLC’s holdings in FirstEnergy were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Neuberger Berman Group LLC boosted its position in FirstEnergy by 233.5% during the 1st quarter. Neuberger Berman Group LLC now owns 903,172 shares of the utilities provider’s stock worth $30,775,000 after acquiring an additional 632,391 shares during the period. Aperio Group LLC boosted its position in FirstEnergy by 27.3% during the 1st quarter. Aperio Group LLC now owns 157,144 shares of the utilities provider’s stock worth $5,344,000 after acquiring an additional 33,704 shares during the period. Sawtooth Solutions LLC boosted its position in FirstEnergy by 3.7% during the 1st quarter. Sawtooth Solutions LLC now owns 41,960 shares of the utilities provider’s stock worth $1,427,000 after acquiring an additional 1,514 shares during the period. Bank of The West boosted its position in FirstEnergy by 5.3% during the 1st quarter. Bank of The West now owns 53,524 shares of the utilities provider’s stock worth $1,820,000 after acquiring an additional 2,684 shares during the period. Finally, Montag A & Associates Inc. acquired a new position in FirstEnergy during the 1st quarter worth $8,915,000. Hedge funds and other institutional investors own 79.49% of the company’s stock.

A number of research analysts have issued reports on the company. ValuEngine lowered FirstEnergy from a “buy” rating to a “hold” rating in a research report on Thursday. Mizuho upgraded FirstEnergy from a “neutral” rating to a “buy” rating in a report on Monday, May 7th. UBS started coverage on FirstEnergy in a report on Friday, February 2nd. They issued a “buy” rating and a $39.00 price objective for the company. Citigroup cut their price objective on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, January 30th. Finally, Wells Fargo upgraded FirstEnergy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $27.93 to $34.30 in a report on Monday, April 30th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.52.

Shares of FirstEnergy opened at $33.25 on Friday, according to MarketBeat.com. FirstEnergy has a 12 month low of $33.42 and a 12 month high of $33.77. The firm has a market cap of $16.06 billion, a PE ratio of 11.38, a P/E/G ratio of 2.33 and a beta of 0.24. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.46 and a quick ratio of 0.40.

FirstEnergy (NYSE:FE) last announced its earnings results on Monday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). FirstEnergy had a negative net margin of 5.33% and a positive return on equity of 22.52%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. research analysts anticipate that FirstEnergy will post 2.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Friday, May 4th. FirstEnergy’s dividend payout ratio is 46.91%.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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