The Manufacturers Life Insurance Company Trims Holdings in FirstEnergy Corp. (FE)

The Manufacturers Life Insurance Company cut its stake in FirstEnergy Corp. (NYSE:FE) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 842,772 shares of the utilities provider’s stock after selling 57,252 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.19% of FirstEnergy worth $25,806,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of FirstEnergy by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,073,983 shares of the utilities provider’s stock valued at $32,884,000 after buying an additional 16,727 shares in the last quarter. Barings LLC raised its stake in shares of FirstEnergy by 289.1% in the 4th quarter. Barings LLC now owns 64,873 shares of the utilities provider’s stock valued at $1,986,000 after buying an additional 48,200 shares in the last quarter. Sei Investments Co. raised its stake in shares of FirstEnergy by 14.8% in the 4th quarter. Sei Investments Co. now owns 115,813 shares of the utilities provider’s stock valued at $3,546,000 after buying an additional 14,896 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of FirstEnergy by 4,057.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,060,105 shares of the utilities provider’s stock valued at $32,460,000 after buying an additional 1,034,605 shares in the last quarter. Finally, First Washington CORP acquired a new position in shares of FirstEnergy in the 4th quarter valued at $1,774,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Shares of FirstEnergy Corp. (NYSE:FE) opened at $32.92 on Friday. The stock has a market cap of $15,580.32, a PE ratio of -8.48, a P/E/G ratio of 13.61 and a beta of 0.35. The company has a current ratio of 0.76, a quick ratio of 0.56 and a debt-to-equity ratio of 5.38. FirstEnergy Corp. has a 1 year low of $27.93 and a 1 year high of $35.22.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. FirstEnergy had a negative net margin of 12.30% and a positive return on equity of 24.02%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up .0% on a year-over-year basis. analysts expect that FirstEnergy Corp. will post 2.41 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s dividend payout ratio is currently -37.11%.

A number of equities analysts have recently issued reports on FE shares. Zacks Investment Research cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Mizuho restated a “hold” rating and issued a $32.00 price objective on shares of FirstEnergy in a research note on Tuesday, January 30th. Guggenheim restated a “buy” rating and issued a $47.00 price objective on shares of FirstEnergy in a research note on Wednesday, January 3rd. ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Finally, Citigroup dropped their target price on shares of FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.33.

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FirstEnergy 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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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