Jennison Associates LLC Sells 87,090 Shares of FirstEnergy Corp. (NYSE:FE)

Jennison Associates LLC trimmed its position in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 4.9% in the third quarter, Holdings Channel reports. The fund owned 1,689,545 shares of the utilities provider’s stock after selling 87,090 shares during the quarter. Jennison Associates LLC’s holdings in FirstEnergy were worth $74,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Boston Partners increased its position in FirstEnergy by 2.3% in the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after buying an additional 218,165 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock worth $403,517,000 after acquiring an additional 457,231 shares during the last quarter. First Pacific Advisors LP increased its position in FirstEnergy by 2.0% during the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock worth $136,152,000 after acquiring an additional 69,512 shares during the period. 1832 Asset Management L.P. raised its stake in FirstEnergy by 7.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after purchasing an additional 193,540 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in FirstEnergy by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,896,140 shares of the utilities provider’s stock worth $72,570,000 after purchasing an additional 104,253 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Stock Up 0.4 %

Shares of FE opened at $41.73 on Thursday. The company has a market capitalization of $24.05 billion, a P/E ratio of 26.92, a PEG ratio of 2.23 and a beta of 0.51. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97. The business’s 50 day simple moving average is $42.96 and its 200-day simple moving average is $41.40. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FEGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the firm posted $0.88 EPS. FirstEnergy’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that FirstEnergy Corp. will post 2.69 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s payout ratio is presently 109.68%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FE shares. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays lifted their price objective on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group began coverage on FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 target price for the company. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

Get Our Latest Report on FE

FirstEnergy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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