First Citizens Bank & Trust Co. purchased a new position in FirstEnergy Corp. (NYSE:FE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,600 shares of the utilities provider’s stock, valued at approximately $233,000.
A number of other institutional investors have also bought and sold shares of FE. Kaizen Advisory LLC grew its position in FirstEnergy by 23.6% during the 4th quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 254 shares in the last quarter. Cetera Advisor Networks LLC grew its position in FirstEnergy by 1.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 16,417 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 255 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of FirstEnergy by 0.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 70,598 shares of the utilities provider’s stock valued at $2,651,000 after acquiring an additional 283 shares in the last quarter. Investors Research Corp lifted its stake in shares of FirstEnergy by 1.2% in the 4th quarter. Investors Research Corp now owns 25,016 shares of the utilities provider’s stock valued at $939,000 after purchasing an additional 300 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of FirstEnergy by 13.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,499 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 90.75% of the company’s stock.
Several research firms recently issued reports on FE. Bank of America lifted their price objective on shares of FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, March 4th. Morgan Stanley set a $44.00 price objective on shares of FirstEnergy and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $46.00 in a research note on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.86.
FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.67 billion. FirstEnergy had a net margin of 10.41% and a return on equity of 21.13%. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts forecast that FirstEnergy Corp. will post 2.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio is 58.69%.
In other news, EVP Leila L. Vespoli sold 24,400 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently 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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