Flippin Bruce & Porter Inc. Has $7.63 Million Position in FirstEnergy Corporation (FE)

Flippin Bruce & Porter Inc. trimmed its stake in shares of FirstEnergy Corporation (NYSE:FE) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,382 shares of the utilities provider’s stock after selling 6,565 shares during the quarter. FirstEnergy Corporation accounts for 1.7% of Flippin Bruce & Porter Inc.’s holdings, making the stock its 27th largest holding. Flippin Bruce & Porter Inc. owned about 0.06% of FirstEnergy Corporation worth $7,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FE. Thrivent Financial For Lutherans grew its stake in FirstEnergy Corporation by 9.0% during the 1st quarter. Thrivent Financial For Lutherans now owns 16,718 shares of the utilities provider’s stock worth $531,000 after purchasing an additional 1,380 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in FirstEnergy Corporation by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 920,225 shares of the utilities provider’s stock worth $29,278,000 after purchasing an additional 28,974 shares in the last quarter. Janus Capital Management LLC grew its stake in FirstEnergy Corporation by 115.1% during the 1st quarter. Janus Capital Management LLC now owns 97,535 shares of the utilities provider’s stock worth $3,104,000 after purchasing an additional 52,189 shares in the last quarter. Nuveen Asset Management LLC grew its stake in FirstEnergy Corporation by 28.4% during the 1st quarter. Nuveen Asset Management LLC now owns 50,629 shares of the utilities provider’s stock worth $1,611,000 after purchasing an additional 11,183 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in FirstEnergy Corporation by 8.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 34,787 shares of the utilities provider’s stock worth $1,014,000 after purchasing an additional 2,682 shares in the last quarter. 79.23% of the stock is owned by hedge funds and other institutional investors.

FE has been the subject of several analyst reports. Morgan Stanley set a $39.00 target price on FirstEnergy Corporation and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research raised FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Monday, September 11th. ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Deutsche Bank AG raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $33.00 target price (up from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. FirstEnergy Corporation has an average rating of “Hold” and an average price target of $34.39.

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FirstEnergy Corporation (NYSE:FE) traded up $0.33 during trading on Tuesday, hitting $34.21. The stock had a trading volume of 4,124,200 shares, compared to its average volume of 4,255,470. FirstEnergy Corporation has a fifty-two week low of $27.93 and a fifty-two week high of $34.50. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56. The stock has a market cap of $15,071.79, a P/E ratio of 12.41 and a beta of 0.24.

FirstEnergy Corporation (NYSE:FE) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.11. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business earned $0.90 EPS. sell-side analysts forecast that FirstEnergy Corporation will post 3.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, November 6th. FirstEnergy Corporation’s payout ratio is currently -12.31%.

About FirstEnergy Corporation

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

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