Captrust Financial Advisors decreased its stake in shares of FirstEnergy Corp. (NYSE:FE – Free Report) by 15.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,101 shares of the utilities provider’s stock after selling 5,709 shares during the period. Captrust Financial Advisors’ holdings in FirstEnergy were worth $1,335,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in FirstEnergy by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock valued at $104,057,000 after buying an additional 171,955 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in FirstEnergy by 1.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 89,511 shares of the utilities provider’s stock valued at $3,970,000 after buying an additional 1,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of FirstEnergy by 5.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,571 shares of the utilities provider’s stock valued at $4,859,000 after purchasing an additional 5,535 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of FirstEnergy in the 3rd quarter valued at about $214,000. Finally, Qsemble Capital Management LP raised its holdings in shares of FirstEnergy by 241.6% in the 3rd quarter. Qsemble Capital Management LP now owns 58,015 shares of the utilities provider’s stock valued at $2,573,000 after purchasing an additional 41,033 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.
Wall Street Analyst Weigh In
FE has been the subject of several recent research reports. Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Bank of America boosted their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, September 20th. Finally, Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.82.
FirstEnergy Stock Down 0.9 %
NYSE:FE opened at $40.97 on Friday. The company’s 50 day moving average is $42.49 and its two-hundred day moving average is $41.57. The company has a market cap of $23.61 billion, a PE ratio of 26.43, a P/E/G ratio of 2.23 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97.
FirstEnergy (NYSE:FE – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Analysts anticipate that FirstEnergy Corp. will post 2.68 EPS for the current year.
FirstEnergy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.
About FirstEnergy
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.
See Also
- Five stocks we like better than FirstEnergy
- What Are Earnings Reports?
- Fast-Growing Companies That Are Still Undervalued
- How is Compound Interest Calculated?
- Top Cybersecurity Stock Picks for 2025
- Want to Profit on the Downtrend? Downtrends, Explained.
- Archer or Joby: Which Aviation Company Might Rise Fastest?
Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE – Free Report).
Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.