Ladenburg Thalmann Financial Services Inc. lessened its position in shares of FirstEnergy Corp. (NYSE:FE) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,528 shares of the utilities provider’s stock after selling 4,080 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in FirstEnergy were worth $2,205,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in FirstEnergy by 23.4% during the 2nd quarter. Vanguard Group Inc. now owns 44,375,170 shares of the utilities provider’s stock valued at $1,293,979,000 after acquiring an additional 8,409,439 shares in the last quarter. BlackRock Inc. raised its stake in FirstEnergy by 13.9% during the 2nd quarter. BlackRock Inc. now owns 44,045,492 shares of the utilities provider’s stock valued at $1,284,363,000 after acquiring an additional 5,369,241 shares in the last quarter. NWQ Investment Management Company LLC bought a new stake in FirstEnergy during the 3rd quarter valued at $70,441,000. Brookfield Asset Management Inc. raised its stake in FirstEnergy by 3,345.0% during the 2nd quarter. Brookfield Asset Management Inc. now owns 1,829,980 shares of the utilities provider’s stock valued at $53,362,000 after acquiring an additional 1,776,860 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in FirstEnergy by 23.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,071,635 shares of the utilities provider’s stock valued at $177,049,000 after acquiring an additional 1,148,955 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on FE. Bank of America began coverage on FirstEnergy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $34.00 price target on the stock. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Morgan Stanley lifted their price target on FirstEnergy from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, September 8th. Finally, Citigroup lifted their price target on FirstEnergy from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $34.39.
Shares of FirstEnergy Corp. (NYSE FE) opened at $31.83 on Friday. The company has a market capitalization of $14,293.29, a price-to-earnings ratio of 11.77 and a beta of 0.25. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. FirstEnergy Corp. has a 12-month low of $27.93 and a 12-month 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 business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.90 earnings per share. research analysts expect that FirstEnergy Corp. will post 3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 7th were given a dividend of $0.36 per share. The ex-dividend date was Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.52%. FirstEnergy’s payout ratio is -12.31%.
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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