Candriam Luxembourg S.C.A. grew its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,568 shares of the utilities provider’s stock after purchasing an additional 3,714 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in FirstEnergy were worth $6,631,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Baker Ellis Asset Management LLC acquired a new position in shares of FirstEnergy during the 4th quarter valued at about $122,000. Accurate Investment Solutions Inc. boosted its position in shares of FirstEnergy by 767.8% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock valued at $170,000 after acquiring an additional 4,860 shares during the last quarter. IBM Retirement Fund acquired a new position in shares of FirstEnergy during the 3rd quarter valued at about $204,000. Cubist Systematic Strategies LLC acquired a new position in shares of FirstEnergy during the 2nd quarter valued at about $215,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of FirstEnergy during the 4th quarter valued at about $228,000. 83.24% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on FE shares. Guggenheim reissued a “buy” rating and set a $47.00 price target on shares of FirstEnergy in a research report on Wednesday, January 3rd. Zacks Investment Research raised 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. ValuEngine raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.09 to $36.00 in a research report on Friday, January 26th. Finally, UBS Group started coverage on shares of FirstEnergy in a research report on Friday, February 2nd. They set a “buy” rating and a $39.00 price target on the stock. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. FirstEnergy currently has a consensus rating of “Buy” and a consensus price target of $35.33.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 7th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $1.44 annualized dividend and a yield of 4.51%. FirstEnergy’s dividend payout ratio (DPR) is currently -12.31%.
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FirstEnergy Company 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.
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