Caisse DE Depot ET Placement DU Quebec trimmed its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 460,203 shares of the utilities provider’s stock after selling 44,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.10% of FirstEnergy worth $14,248,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of FirstEnergy by 15.1% during the second quarter. US Bancorp DE now owns 29,153 shares of the utilities provider’s stock valued at $850,000 after buying an additional 3,825 shares during the period. Strs Ohio increased its stake in shares of FirstEnergy by 11.3% during the second quarter. Strs Ohio now owns 48,365 shares of the utilities provider’s stock valued at $1,410,000 after buying an additional 4,911 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of FirstEnergy by 0.6% during the second quarter. Public Employees Retirement Association of Colorado now owns 85,731 shares of the utilities provider’s stock valued at $2,500,000 after buying an additional 476 shares during the period. NGAM Advisors L.P. increased its stake in shares of FirstEnergy by 1.3% during the second quarter. NGAM Advisors L.P. now owns 37,139 shares of the utilities provider’s stock valued at $1,083,000 after buying an additional 464 shares during the period. Finally, Rothschild Asset Management Inc. increased its stake in shares of FirstEnergy by 9.3% during the second quarter. Rothschild Asset Management Inc. now owns 18,936 shares of the utilities provider’s stock valued at $552,000 after buying an additional 1,615 shares during the period. Institutional investors and hedge funds own 82.70% of the company’s stock.
FirstEnergy Corporation (NYSE:FE) traded up $0.02 during trading on Thursday, hitting $32.37. The company had a trading volume of 3,343,200 shares, compared to its average volume of 4,262,138. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $35.22. The firm has a market capitalization of $14,391.15, a P/E ratio of 11.85 and a beta of 0.25.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Monday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is -12.31%.
Several research firms have issued reports on FE. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Evercore ISI upgraded FirstEnergy from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Citigroup lifted their target price on FirstEnergy from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, October 17th. Zacks Investment Research upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, September 20th. Finally, J P Morgan Chase & Co set a $34.00 target price on FirstEnergy and gave the company a “hold” rating in a research note on Thursday, October 12th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $34.39.
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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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