CarsonAllaria Wealth Management Ltd. bought a new position in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,693 shares of the utilities provider’s stock, valued at approximately $320,000.
Several other large investors have also made changes to their positions in the company. Panagora Asset Management Inc. raised its stake in shares of FirstEnergy by 26.5% in the fourth quarter. Panagora Asset Management Inc. now owns 228,016 shares of the utilities provider’s stock worth $9,483,000 after purchasing an additional 47,811 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of FirstEnergy during the fourth quarter worth approximately $2,549,000. Teacher Retirement System of Texas lifted its stake in shares of FirstEnergy by 5.2% during the fourth quarter. Teacher Retirement System of Texas now owns 601,525 shares of the utilities provider’s stock worth $25,017,000 after buying an additional 29,917 shares during the period. OLD Mission Capital LLC purchased a new stake in shares of FirstEnergy during the fourth quarter worth about $953,000. Finally, WINTON GROUP Ltd acquired a new stake in FirstEnergy during the 4th quarter worth approximately $6,493,000. Institutional investors own 87.78% of the company’s stock.
Several research firms have weighed in on FE. Bank of America boosted their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, January 18th. Credit Suisse Group started coverage on FirstEnergy in a report on Monday, April 25th. They issued an “outperform” rating and a $51.00 target price for the company. Wells Fargo & Company boosted their price objective on FirstEnergy from $43.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, April 25th. Morgan Stanley increased their target price on FirstEnergy from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 20th. Finally, KeyCorp lifted their target price on FirstEnergy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $46.78.
FirstEnergy (NYSE:FE – Get Rating) last released its quarterly earnings data on Thursday, April 21st. The utilities provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.85 billion. FirstEnergy had a net margin of 10.85% and a return on equity of 17.17%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, equities analysts predict that FirstEnergy Corp. will post 2.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Thursday, May 5th. FirstEnergy’s payout ratio is currently 69.64%.
FirstEnergy Company Profile (Get Rating)
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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