FirstEnergy Corp. (FE) Shares Sold by AMP Capital Investors Ltd

AMP Capital Investors Ltd cut its stake in FirstEnergy Corp. (NYSE:FE) by 36.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,620 shares of the utilities provider’s stock after selling 92,157 shares during the period. AMP Capital Investors Ltd’s holdings in FirstEnergy were worth $4,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Conning Inc. lifted its position in shares of FirstEnergy by 32.5% during the second quarter. Conning Inc. now owns 15,639 shares of the utilities provider’s stock valued at $456,000 after buying an additional 3,840 shares during the last quarter. State of Wisconsin Investment Board lifted its position in shares of FirstEnergy by 27.2% during the second quarter. State of Wisconsin Investment Board now owns 687,501 shares of the utilities provider’s stock valued at $20,048,000 after buying an additional 147,080 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of FirstEnergy by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 11,546,862 shares of the utilities provider’s stock valued at $336,706,000 after buying an additional 745,495 shares during the last quarter. Legal & General Group Plc lifted its position in shares of FirstEnergy by 5.8% during the second quarter. Legal & General Group Plc now owns 2,719,247 shares of the utilities provider’s stock valued at $79,291,000 after buying an additional 148,705 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of FirstEnergy by 0.7% during the second quarter. Comerica Bank now owns 110,199 shares of the utilities provider’s stock valued at $3,444,000 after buying an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 82.70% of the company’s stock.

FirstEnergy Corp. (NYSE:FE) opened at $31.83 on Friday. FirstEnergy Corp. has a 52-week low of $27.93 and a 52-week high of $35.22. The stock has a market capitalization of $14,293.29, a P/E ratio of 11.77 and a beta of 0.25. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.52%. FirstEnergy’s payout ratio is currently -12.31%.

Several analysts have commented on the stock. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. KeyCorp restated a “hold” rating on shares of FirstEnergy in a report on Friday, October 20th. Bank of America initiated coverage on shares of FirstEnergy in a report on Tuesday, October 24th. They set a “neutral” rating and a $34.00 price objective on the stock. Finally, Morgan Stanley increased their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.39.

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About FirstEnergy

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.

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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