LS Investment Advisors LLC boosted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,190 shares of the utilities provider’s stock after buying an additional 2,076 shares during the period. LS Investment Advisors LLC’s holdings in FirstEnergy Corporation were worth $676,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of FirstEnergy Corporation during the first quarter valued at $139,000. City Holding Co. boosted its position in FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after buying an additional 400 shares during the last quarter. Sandy Spring Bank boosted its position in shares of FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock valued at $161,000 after buying an additional 97 shares in the last quarter. Ledyard National Bank acquired a new position in shares of FirstEnergy Corporation during the first quarter valued at about $174,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of FirstEnergy Corporation during the first quarter valued at about $215,000. Hedge funds and other institutional investors own 78.75% of the company’s stock.
Shares of FirstEnergy Corporation (NYSE FE) traded up 0.55% during trading on Friday, reaching $32.83. 3,306,015 shares of the company were exchanged. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96. The company has a 50 day moving average price of $31.10 and a 200-day moving average price of $30.46. The stock’s market capitalization is $14.59 billion.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The firm 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 company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. Equities analysts predict that FirstEnergy Corporation will post $2.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s payout ratio is -12.31%.
Several equities analysts have recently issued reports on FE shares. Citigroup Inc. reaffirmed a “neutral” rating and issued a $34.00 price objective (up previously from $32.00) on shares of FirstEnergy Corporation in a research note on Saturday, April 22nd. Barclays PLC reissued an “equal weight” rating and issued a $38.00 target price (up from $35.00) on shares of FirstEnergy Corporation in a research report on Sunday, April 23rd. J P Morgan Chase & Co cut 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 report on Monday, May 1st. Jefferies Group LLC reduced their target price on shares of FirstEnergy Corporation from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Monday, May 1st. Finally, Morgan Stanley reduced their target price on shares of FirstEnergy Corporation from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, May 8th. One equities research 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 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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