Janus Capital Management LLC raised its stake in FirstEnergy Corporation (NYSE:FE) by 115.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,535 shares of the utilities provider’s stock after buying an additional 52,189 shares during the period. Janus Capital Management LLC’s holdings in FirstEnergy Corporation were worth $3,104,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its stake in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares during the last quarter. Vanguard Group Inc. increased its stake in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares during the last quarter. LSV Asset Management increased its stake in FirstEnergy Corporation by 8.2% in the first quarter. LSV Asset Management now owns 14,052,653 shares of the utilities provider’s stock valued at $447,155,000 after buying an additional 1,065,573 shares during the last quarter. Bank of New York Mellon Corp increased its stake in FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock valued at $343,698,000 after buying an additional 5,141,450 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in FirstEnergy Corporation by 14.1% in the first quarter. Geode Capital Management LLC now owns 5,209,630 shares of the utilities provider’s stock valued at $165,576,000 after buying an additional 642,687 shares during the last quarter. 78.11% of the stock is owned by institutional investors.
FirstEnergy Corporation (NYSE:FE) traded up 0.41% on Friday, reaching $32.17. The company’s stock had a trading volume of 3,904,651 shares. The firm’s market cap is $14.29 billion. FirstEnergy Corporation has a 12 month low of $27.93 and a 12 month high of $34.96. The firm has a 50 day moving average of $30.62 and a 200 day moving average of $30.36.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts anticipate that FirstEnergy Corporation will post $2.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.48%. FirstEnergy Corporation’s dividend payout ratio is presently -12.31%.
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Several equities research analysts have recently commented on FE shares. BidaskClub downgraded FirstEnergy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Barclays PLC raised FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $38.00 to $36.00 in a report on Monday, May 1st. Morgan Stanley cut their price target on FirstEnergy Corporation from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, May 8th. ValuEngine downgraded FirstEnergy Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $34.00 price target (up previously from $32.00) on shares of FirstEnergy Corporation in a report on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $33.71.
FirstEnergy Corporation 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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