Lesa Sroufe & Co decreased its position in shares of FirstEnergy Corporation (NYSE:FE) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,820 shares of the utilities provider’s stock after selling 2,714 shares during the quarter. FirstEnergy Corporation makes up 3.4% of Lesa Sroufe & Co’s holdings, making the stock its 14th largest holding. Lesa Sroufe & Co’s holdings in FirstEnergy Corporation were worth $3,910,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Washington Trust Bank grew its position in shares of FirstEnergy Corporation by 0.3% during the 2nd quarter. Washington Trust Bank now owns 13,570 shares of the utilities provider’s stock worth $396,000 after buying an additional 36 shares in the last quarter. Sandy Spring Bank grew its position in shares of FirstEnergy Corporation by 1.3% during the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after buying an additional 66 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of FirstEnergy Corporation by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,967 shares of the utilities provider’s stock worth $961,000 after buying an additional 145 shares in the last quarter. Sentry Investment Management LLC grew its position in shares of FirstEnergy Corporation by 0.5% during the 2nd quarter. Sentry Investment Management LLC now owns 35,060 shares of the utilities provider’s stock worth $1,022,000 after buying an additional 185 shares in the last quarter. Finally, Norinchukin Bank The grew its position in shares of FirstEnergy Corporation by 0.7% during the 2nd quarter. Norinchukin Bank The now owns 36,293 shares of the utilities provider’s stock worth $1,058,000 after buying an additional 240 shares in the last quarter. 79.23% of the stock is currently owned by institutional investors and hedge funds.
FE has been the subject of a number of analyst reports. Zacks Investment Research cut FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Deutsche Bank AG restated a “hold” rating and set a $34.00 price objective (up from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. ValuEngine upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday. J P Morgan Chase & Co set a $34.00 price objective on FirstEnergy Corporation and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Mizuho restated a “hold” rating and set a $30.50 price objective on shares of FirstEnergy Corporation in a research note on Tuesday, October 24th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.39.
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FirstEnergy Corporation (NYSE:FE) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.11. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the business posted $0.90 earnings per share. equities research analysts predict that FirstEnergy Corporation will post 3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, November 6th. FirstEnergy Corporation’s payout ratio is -12.23%.
About FirstEnergy Corporation
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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