4 days Ago By ABMN Staff
Envestnet Asset Management Inc. raised its holdings in FirstEnergy Corp. ( NYSE:FE – Free Report ) by 15.
2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 381,181 shares of the utilities provider’s stock after acquiring an additional 50,363 shares during the period. Envestnet Asset Management Inc.
owned 0.07% of FirstEnergy worth $15,163,000 at the end of the most recent reporting period. Other large investors also recently made changes to their positions in the company.
Kestra Investment Management LLC purchased a new position in FirstEnergy during the fourth quarter worth about $26,000. Lee Danner & Bass Inc. acquired a new stake in shares of FirstEnergy in the fourth quarter worth approximately $26,000.
WASHINGTON TRUST Co grew its holdings in FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 586 shares during the period.
SBI Securities Co. Ltd. acquired a new position in FirstEnergy during the fourth quarter worth approximately $33,000.
Finally, Cedar Mountain Advisors LLC purchased a new position in FirstEnergy during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.
Wall Street Analyst Weigh In A number of analysts have recently commented on FE shares. Guggenheim upped their price objective on FirstEnergy from $45.00 to $47.
00 and gave the stock a “buy” rating in a report on Monday, April 7th. Scotiabank cut their price objective on FirstEnergy from $50.00 to $44.
00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. UBS Group boosted their target price on FirstEnergy from $41.00 to $43.
00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Wells Fargo & Company cut their price target on shares of FirstEnergy from $48.00 to $41.
00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley decreased their price objective on shares of FirstEnergy from $52.00 to $48.
00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.
17. FirstEnergy Stock Performance FirstEnergy stock opened at $41.03 on Wednesday.
FirstEnergy Corp. has a 12-month low of $36.81 and a 12-month high of $44.
97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.
56 and a quick ratio of 0.46. The company has a market capitalization of $23.
66 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.
41. The firm’s fifty day moving average price is $39.90 and its 200 day moving average price is $40.
77. FirstEnergy ( NYSE:FE – Get Free Report ) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.
67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03).
The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.53 billion.
FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%.
On average, research analysts forecast that FirstEnergy Corp. will post 2.66 EPS for the current fiscal year.
FirstEnergy Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a $0.445 dividend.
The ex-dividend date is Wednesday, May 7th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43.
This represents a $1.78 annualized dividend and a yield of 4.34%.
FirstEnergy’s dividend payout ratio is currently 104.71%. About FirstEnergy ( Free Report ) FirstEnergy Corp.
, through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.
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