Comerica Bank cut its position in FirstEnergy (NYSE:FE) by 2.6% during the first quarter, Holdings Channel reports. The fund owned 111,655 shares of the utilities provider’s stock after selling 3,020 shares during the period. Comerica Bank’s holdings in FirstEnergy were worth $3,893,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Baker Ellis Asset Management LLC acquired a new stake in shares of FirstEnergy in the fourth quarter worth approximately $122,000. Tower Research Capital LLC TRC boosted its stake in shares of FirstEnergy by 344.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 3,714 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of FirstEnergy in the fourth quarter worth approximately $228,000. Farmers Trust Co. acquired a new stake in shares of FirstEnergy in the fourth quarter worth approximately $251,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of FirstEnergy by 352.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,673 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 6,756 shares during the last quarter. 79.49% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:FE opened at $33.25 on Friday. FirstEnergy has a 52 week low of $33.42 and a 52 week high of $33.77. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 2.33 and a beta of 0.24.
FirstEnergy (NYSE:FE) last posted its earnings results on Monday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a negative net margin of 5.33% and a positive return on equity of 22.52%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. FirstEnergy’s revenue for the quarter was down 18.4% compared to the same quarter last year. research analysts predict that FirstEnergy will post 2.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.44 dividend on an annualized basis and a yield of 4.33%. FirstEnergy’s dividend payout ratio is currently 46.91%.
A number of equities analysts have weighed in on the company. Mizuho raised FirstEnergy from a “neutral” rating to a “buy” rating in a research note on Monday, May 7th. Bank of America raised FirstEnergy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $32.09 to $36.00 in a research note on Friday, January 26th. UBS assumed coverage on FirstEnergy in a research note on Friday, February 2nd. They set a “buy” rating and a $39.00 price objective on the stock. Morgan Stanley set a $35.00 price objective on FirstEnergy and gave the stock a “buy” rating in a research note on Thursday, March 8th. Finally, Wells Fargo raised FirstEnergy from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $27.93 to $34.30 in a research note on Monday, April 30th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.52.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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