FirstEnergy Corporation (FE) Shares Sold by Riverhead Capital Management LLC

Riverhead Capital Management LLC cut its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 36.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,395 shares of the utilities provider’s stock after selling 9,336 shares during the quarter. Riverhead Capital Management LLC’s holdings in FirstEnergy Corporation were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FE. BlackRock Inc. grew its holdings in shares of FirstEnergy Corporation by 4,036.6% during the 1st quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock worth $1,230,678,000 after purchasing an additional 37,741,283 shares during the period. Vanguard Group Inc. grew its holdings in shares of FirstEnergy Corporation by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock worth $1,144,430,000 after purchasing an additional 2,378,538 shares during the period. Prudential Financial Inc. grew its holdings in shares of FirstEnergy Corporation by 73.2% during the 1st quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock worth $162,172,000 after purchasing an additional 2,154,657 shares during the period. Bank of America Corp DE grew its holdings in shares of FirstEnergy Corporation by 54.8% during the 1st quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock worth $140,747,000 after purchasing an additional 1,566,627 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of FirstEnergy Corporation by 23.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,071,635 shares of the utilities provider’s stock worth $177,049,000 after purchasing an additional 1,148,955 shares during the period. Institutional investors and hedge funds own 79.97% of the company’s stock.

A number of equities analysts have recently weighed in on FE shares. BidaskClub cut FirstEnergy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. ValuEngine cut FirstEnergy Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) lowered FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a research note on Monday, June 26th. Morgan Stanley increased their target price on FirstEnergy Corporation from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Finally, Zacks Investment Research lowered FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. FirstEnergy Corporation has a consensus rating of “Hold” and an average target price of $34.02.

Shares of FirstEnergy Corporation (FE) opened at 31.15 on Friday. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.96. The firm has a 50-day moving average price of $32.26 and a 200-day moving average price of $30.69. The firm’s market cap is $13.84 billion.

FirstEnergy Corporation (NYSE:FE) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. Analysts predict that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Monday, November 6th. FirstEnergy Corporation’s payout ratio is -12.31%.

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FirstEnergy Corporation Profile

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.

Institutional Ownership by Quarter for FirstEnergy Corporation (NYSE:FE)

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