Checchi Capital Advisers LLC bought a new position in FirstEnergy Corp. (NYSE:FE) during the third quarter, HoldingsChannel reports. The firm bought 4,404 shares of the utilities provider’s stock, valued at approximately $212,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pearl River Capital LLC bought a new position in FirstEnergy during the 2nd quarter valued at $25,000. Clean Yield Group lifted its stake in FirstEnergy by 1,184.0% during the 2nd quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 592 shares in the last quarter. Horan Securities Inc. bought a new position in FirstEnergy during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. lifted its stake in FirstEnergy by 805.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 604 shares in the last quarter. Finally, Bartlett & Co. LLC bought a new position in FirstEnergy during the 3rd quarter valued at $33,000. Institutional investors own 94.69% of the company’s stock.
Several brokerages have weighed in on FE. Citigroup set a $49.00 price objective on FirstEnergy and gave the company a “hold” rating in a research note on Thursday, October 10th. KeyCorp raised their price objective on FirstEnergy from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America lowered FirstEnergy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. Morgan Stanley decreased their target price on FirstEnergy from $49.00 to $48.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Finally, ValuEngine lowered FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $48.36.
FirstEnergy (NYSE:FE) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. FirstEnergy had a return on equity of 19.21% and a net margin of 10.49%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the firm posted $0.80 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that FirstEnergy Corp. will post 2.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, November 6th. FirstEnergy’s dividend payout ratio is presently 58.69%.
FirstEnergy Company 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.
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