Alberta Investment Management Corp Has $2.63 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Alberta Investment Management Corp lessened its stake in shares of FirstEnergy Corp. (NYSE:FE) by 57.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,600 shares of the utilities provider’s stock after selling 89,900 shares during the period. Alberta Investment Management Corp’s holdings in FirstEnergy were worth $2,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Citizens Financial Group Inc RI raised its holdings in FirstEnergy by 108.4% during the 1st quarter. Citizens Financial Group Inc RI now owns 1,096 shares of the utilities provider’s stock worth $44,000 after buying an additional 570 shares during the period. Sasco Capital Inc. CT raised its holdings in FirstEnergy by 7.0% during the 1st quarter. Sasco Capital Inc. CT now owns 425,031 shares of the utilities provider’s stock worth $17,031,000 after buying an additional 27,800 shares during the period. Fiera Capital Corp acquired a new stake in FirstEnergy during the 1st quarter worth about $1,355,000. PNC Financial Services Group Inc. raised its holdings in FirstEnergy by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 93,834 shares of the utilities provider’s stock worth $3,762,000 after buying an additional 3,041 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its holdings in FirstEnergy by 170.4% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,332 shares of the utilities provider’s stock worth $173,000 after buying an additional 2,730 shares during the period. Hedge funds and other institutional investors own 84.63% of the company’s stock.

Several research firms have weighed in on FE. Seaport Global Securities began coverage on FirstEnergy in a research note on Wednesday. They set a “buy” rating and a $47.00 target price on the stock. Morgan Stanley lowered their target price on FirstEnergy from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 15th. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Monday, March 16th. UBS Group lowered their target price on FirstEnergy from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, TheStreet raised FirstEnergy from a “f” rating to a “c” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.75.

Shares of FirstEnergy stock opened at $40.64 on Friday. The stock has a market capitalization of $21.90 billion, a P/E ratio of 32.34 and a beta of 0.46. The company has a quick ratio of 0.46, a current ratio of 0.54 and a debt-to-equity ratio of 3.06. The stock has a 50 day moving average price of $41.79 and a two-hundred day moving average price of $45.80. FirstEnergy Corp. has a 12-month low of $32.00 and a 12-month high of $52.51.

FirstEnergy (NYSE:FE) last announced its earnings results on Thursday, April 23rd. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.87 billion. FirstEnergy had a return on equity of 19.57% and a net margin of 6.13%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Sell-side analysts anticipate that FirstEnergy Corp. will post 2.49 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.56 dividend on an annualized basis and a yield of 3.84%. FirstEnergy’s payout ratio is currently 60.47%.

About FirstEnergy

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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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