FirstEnergy Corporation (FE) Shares Sold by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. cut its position in FirstEnergy Corporation (NYSE:FE) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 17,321 shares of the utilities provider’s stock after selling 48 shares during the period. Rothschild Asset Management Inc.’s holdings in FirstEnergy Corporation were worth $551,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Highbridge Capital Management LLC boosted its position in FirstEnergy Corporation by 19.5% in the fourth quarter. Highbridge Capital Management LLC now owns 971,358 shares of the utilities provider’s stock worth $30,083,000 after buying an additional 158,845 shares in the last quarter. Comerica Bank boosted its position in FirstEnergy Corporation by 1.9% in the fourth quarter. Comerica Bank now owns 105,054 shares of the utilities provider’s stock worth $3,215,000 after buying an additional 1,916 shares in the last quarter. BP PLC acquired a new position in FirstEnergy Corporation during the first quarter worth approximately $1,591,000. Washington Trust Bank boosted its position in FirstEnergy Corporation by 522.0% in the first quarter. Washington Trust Bank now owns 13,534 shares of the utilities provider’s stock worth $431,000 after buying an additional 11,358 shares in the last quarter. Finally, Northpointe Capital LLC boosted its position in FirstEnergy Corporation by 23.0% in the first quarter. Northpointe Capital LLC now owns 127,080 shares of the utilities provider’s stock worth $4,044,000 after buying an additional 23,752 shares in the last quarter. 78.41% of the stock is currently owned by institutional investors.
FirstEnergy Corporation (FE) traded up 0.47% during trading on Friday, hitting $29.93. The stock had a trading volume of 12,165,619 shares. The company’s 50 day moving average is $29.03 and its 200-day moving average is $30.48. FirstEnergy Corporation has a 12 month low of $27.93 and a 12 month high of $36.60. The company’s market cap is $13.28 billion.
FirstEnergy Corporation (NYSE:FE) last announced its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. FirstEnergy Corporation had a positive return on equity of 12.79% and a negative net margin of 44.23%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that FirstEnergy Corporation will post $2.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 5th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 4.81%. FirstEnergy Corporation’s payout ratio is -9.83%.
A number of analysts have issued reports on the company. BidaskClub downgraded FirstEnergy Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 10th. Barclays PLC raised FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $38.00 to $36.00 in a research note on Monday, May 1st. Morgan Stanley reduced their price objective on FirstEnergy Corporation from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 8th. Vetr downgraded FirstEnergy Corporation from a “strong-buy” rating to a “buy” rating and set a $36.00 price objective on the stock. in a research note on Monday, February 27th. Finally, Jefferies Group LLC reduced their price objective on FirstEnergy Corporation from $34.50 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $34.57.
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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