Tiverton Asset Management LLC Decreases Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Tiverton Asset Management LLC trimmed its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 80.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,101 shares of the utilities provider’s stock after selling 8,726 shares during the quarter. Tiverton Asset Management LLC’s holdings in FirstEnergy were worth $90,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Pearl River Capital LLC purchased a new stake in shares of FirstEnergy during the second quarter valued at approximately $25,000. Clean Yield Group increased its position in FirstEnergy by 1,184.0% in the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after buying an additional 592 shares during the last quarter. Horan Securities Inc. purchased a new stake in FirstEnergy in the second quarter worth $28,000. Meeder Asset Management Inc. increased its position in FirstEnergy by 805.3% in the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock worth $29,000 after buying an additional 604 shares during the last quarter. Finally, Zions Bancorporation N.A. purchased a new stake in FirstEnergy in the first quarter worth $30,000. 94.32% of the stock is owned by institutional investors.

Shares of FirstEnergy stock traded up $0.12 during trading hours on Thursday, reaching $47.71. The company had a trading volume of 1,905,590 shares, compared to its average volume of 4,278,699. FirstEnergy Corp. has a one year low of $35.33 and a one year high of $47.59. The business has a fifty day simple moving average of $45.00 and a 200 day simple moving average of $42.79. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. The firm has a market cap of $25.73 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 3.13 and a beta of 0.21.



FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, research analysts forecast that FirstEnergy Corp. will post 2.5 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Tuesday, August 6th. FirstEnergy’s payout ratio is currently 58.69%.

FE has been the subject of a number of recent research reports. TheStreet downgraded FirstEnergy from a “b” rating to a “f” rating in a research report on Thursday, July 18th. Mizuho decreased their target price on FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Zacks Investment Research downgraded FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a research report on Tuesday, July 2nd. Finally, KeyCorp reissued an “overweight” rating and issued a $46.00 target price on shares of FirstEnergy in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $44.00.

FirstEnergy Profile

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

Featured Article: Bull Market

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).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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.