Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in FirstEnergy Corporation (NYSE:FE) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,284,829 shares of the utilities provider's stock, valued at approximately $70,441,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in shares of FirstEnergy by 32.0% during the second quarter. The hedge fund run by Jonathan Barrett held 8.82M shares of the central company at the end of 2017Q2, valued at $257.25 million, up from 212,500 at the end of the previous reported quarter. Accurate Investment Solutions Inc. raised its stake in shares of FirstEnergy by 767.8% during the third quarter. Finally, Deutsche Bank raised shares of FirstEnergy from a "hold" rating to a "buy" rating in a report on Tuesday, October 17th. Public Employees Retirement Association of Colorado now owns 85,731 shares of the utilities provider's stock valued at $2,500,000 after purchasing an additional 476 shares during the last quarter. The fund owned 36,134 shares of the utilities provider's stock after buying an additional 3,167 shares during the period. Commonwealth Bank of Australia lifted its position in shares of FirstEnergy by 4.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,755 shares of the utilities provider's stock worth $168,000 after purchasing an additional 1,394 shares during the last quarter.
Several equities research analysts have recently commented on FE shares. The firm earned "Hold" rating on Tuesday, September 5 by Jefferies. Morgan Stanley increased their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, September 8th. The stock now has an average rating of "Hold" and a consensus price target of $34.39. ValuEngine cut shares of FirstEnergy from a "buy" rating to a "hold" rating in a research note on Tuesday, September 12th. Mizuho reaffirmed a "hold" rating and issued a $30.50 price objective on shares of FirstEnergy in a research report on Tuesday, October 24th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. The company has an average rating of "Hold" and an average price target of $34.39.
Shares of FirstEnergy Corporation (NYSE:FE) traded down $0.23 during mid-day trading on Wednesday, reaching $32.35. 5,046,000 shares of the stock traded hands, compared to its average volume of 4,266,064. BMO Capital Markets initiated the shares of FE in report on Thursday, January 14 with "Underperform" rating.
FirstEnergy Corp. stocks at 0.24 Beta shows lower interdependence with the wider index, however company appear to lack any clear trend indicator at now, however its important to note that present beta has no implications on a stock's future volatility. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $35.22.
FirstEnergy (NYSE:FE) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.86 by $0.11. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.72 billion. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same quarter in the prior year, the company posted $0.90 earnings per share. equities research analysts anticipate that FirstEnergy Corporation will post 3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, May 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.45%. FirstEnergy's payout ratio is -12.31%.
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FirstEnergy Corp.is a holding company.