Kentucky Retirement Systems acquired a new stake in FirstEnergy Corp. (NYSE:FE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,894 shares of the utilities provider’s stock, valued at approximately $957,000.
Other large investors have also recently modified their holdings of the company. Security National Trust Co. increased its stake in shares of FirstEnergy Corp. by 914.0% in the third quarter. Security National Trust Co. now owns 3,042 shares of the utilities provider’s stock worth $101,000 after buying an additional 2,742 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of FirstEnergy Corp. during the fourth quarter worth $105,000. Bessemer Group Inc. raised its position in FirstEnergy Corp. by 170.5% in the fourth quarter. Bessemer Group Inc. now owns 4,393 shares of the utilities provider’s stock worth $135,000 after buying an additional 2,769 shares in the last quarter. Ancora Advisors LLC bought a new position in FirstEnergy Corp. during the fourth quarter worth about $158,000. Finally, IFM Investors Pty Ltd bought a new position in FirstEnergy Corp. during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 74.16% of the company’s stock.
Shares of FirstEnergy Corp. (NYSE:FE) traded down 0.45% during midday trading on Thursday, hitting $30.71. The stock had a trading volume of 2,498,731 shares. The stock’s market capitalization is $13.59 billion. FirstEnergy Corp. has a 52 week low of $29.33 and a 52 week high of $36.60. The stock has a 50 day moving average price of $31.40 and a 200-day moving average price of $31.44.
FirstEnergy Corp. (NYSE:FE) last posted its earnings results on Tuesday, February 21st. The utilities provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. The business earned $3.40 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The company’s revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that FirstEnergy Corp. will post $2.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 5th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, May 3rd. This represents a $1.44 annualized dividend and a yield of 4.67%. FirstEnergy Corp.’s dividend payout ratio (DPR) is -100.70%.
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A number of research analysts recently issued reports on FE shares. Goldman Sachs Group Inc upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, March 23rd. They noted that the move was a valuation call. Wells Fargo & Co lowered FirstEnergy Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 10th. Jefferies Group LLC reiterated a “hold” rating and set a $32.00 price target on shares of FirstEnergy Corp. in a research report on Friday, March 31st. Vetr lowered FirstEnergy Corp. from a “strong-buy” rating to a “buy” rating and set a $34.37 price target for the company. in a research report on Monday, December 26th. Finally, Mizuho reiterated a “neutral” rating and set a $31.25 price target on shares of FirstEnergy Corp. in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.66.
About FirstEnergy Corp.
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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