Allianz Asset Management GmbH Has $65.35 Million Stake in FirstEnergy Corporation (FE)

Allianz Asset Management GmbH reduced its stake in FirstEnergy Corporation (NYSE:FE) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,119,698 shares of the utilities provider’s stock after selling 169,743 shares during the period. Allianz Asset Management GmbH owned approximately 0.48% of FirstEnergy worth $65,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in FirstEnergy by 23.4% during the 2nd quarter. Vanguard Group Inc. now owns 44,375,170 shares of the utilities provider’s stock worth $1,293,979,000 after buying an additional 8,409,439 shares in the last quarter. BlackRock Inc. lifted its holdings in FirstEnergy by 13.9% during the 2nd quarter. BlackRock Inc. now owns 44,045,492 shares of the utilities provider’s stock worth $1,284,363,000 after buying an additional 5,369,241 shares in the last quarter. Brookfield Asset Management Inc. lifted its holdings in FirstEnergy by 3,345.0% during the 2nd quarter. Brookfield Asset Management Inc. now owns 1,829,980 shares of the utilities provider’s stock worth $53,362,000 after buying an additional 1,776,860 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in FirstEnergy by 23.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,071,635 shares of the utilities provider’s stock worth $177,049,000 after buying an additional 1,148,955 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in FirstEnergy by 131.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,013,626 shares of the utilities provider’s stock worth $58,717,000 after buying an additional 1,144,794 shares in the last quarter. Institutional investors own 82.70% of the company’s stock.

FirstEnergy Corporation (NYSE FE) traded down $0.23 during mid-day trading on Wednesday, hitting $32.35. The stock had a trading volume of 5,046,000 shares, compared to its average volume of 4,266,064. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a market cap of $14,493.47, a P/E ratio of 11.93 and a beta of 0.25. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $35.22.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.11. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same quarter in the prior year, the business posted $0.90 EPS. analysts predict that FirstEnergy Corporation will post 3 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Monday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is currently -12.31%.

Several research analysts have issued reports on FE shares. Mizuho reaffirmed a “hold” rating and set a $30.50 price objective on shares of FirstEnergy in a report on Tuesday, October 24th. KeyCorp reaffirmed a “hold” rating on shares of FirstEnergy in a report on Friday, October 20th. J P Morgan Chase & Co set a $34.00 price objective on FirstEnergy and gave the stock a “hold” rating in a report on Thursday, October 12th. Zacks Investment Research downgraded FirstEnergy from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Morgan Stanley upped their price objective on FirstEnergy from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $34.39.

TRADEMARK VIOLATION WARNING: “Allianz Asset Management GmbH Has $65.35 Million Stake in FirstEnergy Corporation (FE)” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.com-unik.info/2017/12/06/allianz-asset-management-gmbh-has-65-35-million-stake-in-firstenergy-corporation-fe.html.

FirstEnergy 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.

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corporation (NYSE:FE).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

What are top analysts saying about FirstEnergy Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for FirstEnergy Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit