Redpoint Investment Management Pty Ltd lowered its stake in FirstEnergy Corp. (NYSE:FE) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,256 shares of the utilities provider’s stock after selling 4,439 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in FirstEnergy were worth $2,702,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in FirstEnergy by 3.6% during the 2nd quarter. FMR LLC now owns 7,708,855 shares of the utilities provider’s stock valued at $298,949,000 after purchasing an additional 266,810 shares in the last quarter. Boston Partners grew its stake in FirstEnergy by 69.9% during the 3rd quarter. Boston Partners now owns 7,276,042 shares of the utilities provider’s stock valued at $208,895,000 after purchasing an additional 2,994,534 shares in the last quarter. Morgan Stanley grew its stake in FirstEnergy by 25.4% during the 3rd quarter. Morgan Stanley now owns 3,435,567 shares of the utilities provider’s stock valued at $98,635,000 after purchasing an additional 696,379 shares in the last quarter. Two Sigma Advisers LP grew its stake in FirstEnergy by 41.2% during the 2nd quarter. Two Sigma Advisers LP now owns 2,937,200 shares of the utilities provider’s stock valued at $113,905,000 after purchasing an additional 856,600 shares in the last quarter. Finally, Prudential PLC grew its stake in FirstEnergy by 15.0% during the 3rd quarter. Prudential PLC now owns 2,785,001 shares of the utilities provider’s stock valued at $79,957,000 after purchasing an additional 363,627 shares in the last quarter. Institutional investors and hedge funds own 71.09% of the company’s stock.
Shares of FE stock opened at $30.79 on Thursday. FirstEnergy Corp. has a 1-year low of $22.85 and a 1-year high of $52.51. The stock’s fifty day simple moving average is $29.49 and its 200-day simple moving average is $30.79. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 22.81 and a beta of 0.16. The company has a current ratio of 0.70, a quick ratio of 0.60 and a debt-to-equity ratio of 3.09.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, February 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.07%. FirstEnergy’s payout ratio is presently 60.47%.
A number of research firms have commented on FE. Wells Fargo & Company downgraded FirstEnergy from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $31.00 to $32.00 in a report on Wednesday, January 6th. BidaskClub downgraded FirstEnergy from a “buy” rating to a “hold” rating in a report on Monday, December 28th. Bank of America downgraded FirstEnergy from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Friday, November 20th. Morgan Stanley cut their price target on FirstEnergy from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, December 15th. Finally, Barclays raised their price target on FirstEnergy from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. FirstEnergy has an average rating of “Hold” and a consensus price target of $41.41.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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