FirstEnergy Corp. (FE) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its holdings in FirstEnergy Corp. (NYSE:FE) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,169 shares of the utilities provider’s stock after selling 1,698 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in FirstEnergy were worth $3,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FE. Dimensional Fund Advisors LP lifted its stake in FirstEnergy by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,000,477 shares of the utilities provider’s stock valued at $34,026,000 after buying an additional 11,756 shares during the last quarter. LPL Financial LLC lifted its stake in FirstEnergy by 72.9% in the first quarter. LPL Financial LLC now owns 66,541 shares of the utilities provider’s stock valued at $2,263,000 after buying an additional 28,066 shares during the last quarter. Principal Financial Group Inc. lifted its stake in FirstEnergy by 79.4% in the first quarter. Principal Financial Group Inc. now owns 1,410,730 shares of the utilities provider’s stock valued at $47,979,000 after buying an additional 624,164 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in FirstEnergy by 12.2% in the second quarter. Gulf International Bank UK Ltd now owns 155,330 shares of the utilities provider’s stock valued at $5,577,000 after buying an additional 16,870 shares during the last quarter. Finally, First American Trust FSB lifted its stake in FirstEnergy by 2.1% in the second quarter. First American Trust FSB now owns 117,808 shares of the utilities provider’s stock valued at $4,230,000 after buying an additional 2,428 shares during the last quarter. 94.43% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy stock opened at $37.26 on Tuesday. FirstEnergy Corp. has a 12 month low of $29.33 and a 12 month high of $39.01. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41. The company has a market cap of $18.78 billion, a PE ratio of 12.14, a P/E/G ratio of 2.41 and a beta of 0.29.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.09. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.82 billion. As a group, sell-side analysts anticipate that FirstEnergy Corp. will post 2.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.

A number of equities research analysts have weighed in on the company. Bank of America reiterated a “buy” rating and issued a $41.00 price objective (up previously from $39.00) on shares of FirstEnergy in a research note on Monday. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Citigroup boosted their price objective on FirstEnergy from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. Howard Weil assumed coverage on FirstEnergy in a research note on Tuesday, July 24th. They issued a “sector outperform” rating and a $39.00 price objective for the company. Finally, ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. FirstEnergy presently has an average rating of “Buy” and an average target price of $39.90.

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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