Chartwell Investment Partners LLC decreased its position in shares of FirstEnergy Corporation (NYSE:FE) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,720 shares of the utilities provider’s stock after selling 2,000 shares during the period. FirstEnergy Corporation accounts for approximately 0.7% of Chartwell Investment Partners LLC’s portfolio, making the stock its 26th largest position. Chartwell Investment Partners LLC owned 0.15% of FirstEnergy Corporation worth $19,092,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised 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 worth $1,230,678,000 after buying an additional 37,741,283 shares in the last quarter. Vanguard Group Inc. raised 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 worth $1,144,430,000 after buying an additional 2,378,538 shares in the last quarter. LSV Asset Management raised 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 worth $447,155,000 after buying an additional 1,065,573 shares in the last quarter. Bank of New York Mellon Corp raised its stake in FirstEnergy Corporation by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 11,546,862 shares of the utilities provider’s stock worth $336,706,000 after buying an additional 745,495 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 worth $165,576,000 after buying an additional 642,687 shares in the last quarter. Institutional investors own 78.75% of the company’s stock.
FirstEnergy Corporation (NYSE FE) opened at 32.65 on Friday. The firm’s market cap is $14.51 billion. The firm has a 50-day moving average of $30.98 and a 200-day moving average of $30.44. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $34.96.
FirstEnergy Corporation (NYSE:FE) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, analysts expect that FirstEnergy Corporation will post $2.82 EPS for the current year.
The firm 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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio is currently -12.31%.
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A number of analysts have recently weighed in on FE shares. Zacks Investment Research downgraded shares of FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Deutsche Bank AG reissued a “hold” rating and set a $34.00 price target (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Barclays PLC reissued an “overweight” rating and set a $37.00 price target (up previously from $36.00) on shares of FirstEnergy Corporation in a research report on Monday, June 19th. J P Morgan Chase & Co downgraded shares of FirstEnergy Corporation from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $32.00 in a research report on Monday, May 1st. Finally, Morgan Stanley set a $38.00 price target on shares of FirstEnergy Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $33.80.
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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