Amundi Pioneer Asset Management Inc. acquired a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 387,998 shares of the utilities provider’s stock, valued at approximately $11,881,000. Amundi Pioneer Asset Management Inc. owned about 0.09% of FirstEnergy at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of FE. Baker Ellis Asset Management LLC purchased a new position in shares of FirstEnergy during the fourth quarter valued at about $122,000. Tower Research Capital LLC TRC increased its position in shares of FirstEnergy by 344.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock valued at $147,000 after buying an additional 3,714 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of FirstEnergy during the fourth quarter valued at about $228,000. Farmers Trust Co. purchased a new position in shares of FirstEnergy during the fourth quarter valued at about $251,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of FirstEnergy by 352.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,673 shares of the utilities provider’s stock valued at $265,000 after buying an additional 6,756 shares during the period. 78.74% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on FE shares. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday, January 2nd. Wolfe Research upgraded shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $32.09 to $36.00 in a report on Friday, January 26th. Morgan Stanley set a $35.00 price objective on shares of FirstEnergy and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Guggenheim restated a “buy” rating and issued a $47.00 price objective on shares of FirstEnergy in a report on Wednesday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. FirstEnergy has a consensus rating of “Buy” and a consensus price target of $35.38.
Shares of FE stock opened at $33.74 on Friday. FirstEnergy Corp. has a fifty-two week low of $27.93 and a fifty-two week high of $35.22. The company has a current ratio of 0.76, a quick ratio of 0.65 and a debt-to-equity ratio of 5.38. The company has a market cap of $16,384.07, a P/E ratio of -8.70, a PEG ratio of 14.42 and a beta of 0.34.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. FirstEnergy had a negative net margin of 12.30% and a positive return on equity of 24.02%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts forecast that FirstEnergy Corp. will post 2.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, May 4th. FirstEnergy’s payout ratio is -37.11%.
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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