Bank of America Corp DE lifted its position in shares of FirstEnergy Corp. (NYSE:FE) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,325,000 shares of the utilities provider’s stock after purchasing an additional 341,690 shares during the quarter. Bank of America Corp DE owned approximately 1.04% of FirstEnergy worth $199,954,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC boosted its holdings in FirstEnergy by 45.5% during the third quarter. Private Advisor Group LLC now owns 19,592 shares of the utilities provider’s stock worth $728,000 after buying an additional 6,125 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in FirstEnergy by 27.8% during the third quarter. WINTON GROUP Ltd now owns 8,539 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 1,857 shares in the last quarter. ING Groep NV purchased a new position in FirstEnergy during the third quarter valued at $452,000. SG Americas Securities LLC lifted its holdings in FirstEnergy by 171.9% during the third quarter. SG Americas Securities LLC now owns 47,335 shares of the utilities provider’s stock valued at $1,759,000 after purchasing an additional 29,928 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in FirstEnergy by 8.2% during the third quarter. Toronto Dominion Bank now owns 314,898 shares of the utilities provider’s stock valued at $11,701,000 after purchasing an additional 23,990 shares in the last quarter. 90.86% of the stock is currently owned by institutional investors.
Several research firms have issued reports on FE. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $46.00 in a report on Wednesday. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Tuesday, February 5th. Finally, Morgan Stanley set a $38.00 price objective on shares of FirstEnergy and gave the company a “buy” rating in a report on Thursday, December 20th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $42.00.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.67 billion. FirstEnergy had a net margin of 10.41% and a return on equity of 21.13%. During the same period last year, the firm posted $0.71 earnings per share. On average, research analysts anticipate that FirstEnergy Corp. will post 2.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio (DPR) is 58.69%.
In other news, EVP James F. Pearson sold 40,000 shares of the stock in a transaction dated Wednesday, January 9th. The shares were sold at an average price of $37.87, for a total value of $1,514,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leila L. Vespoli sold 24,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $41.33, for a total transaction of $1,008,452.00. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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