Bessemer Group Inc. grew its position in FirstEnergy Corp. (NYSE:FE – Free Report) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,883 shares of the utilities provider’s stock after acquiring an additional 529 shares during the quarter. Bessemer Group Inc.’s holdings in FirstEnergy were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC purchased a new position in shares of FirstEnergy in the 4th quarter worth approximately $27,000. GW&K Investment Management LLC boosted its holdings in shares of FirstEnergy by 159.2% in the 4th quarter. GW&K Investment Management LLC now owns 635 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 390 shares during the period. Clear Street Markets LLC boosted its holdings in FirstEnergy by 549.0% during the 4th quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 549 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in FirstEnergy during the 1st quarter valued at $30,000. Finally, MUFG Americas Holdings Corp purchased a new position in FirstEnergy during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 85.35% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Barclays assumed coverage on FirstEnergy in a report on Wednesday. They set an “equal weight” rating and a $37.00 price objective for the company. TheStreet cut FirstEnergy from a “b” rating to a “c+” rating in a report on Friday, August 4th. Morgan Stanley dropped their price objective on FirstEnergy from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group cut FirstEnergy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $45.00 to $40.00 in a report on Monday, August 7th. Finally, Guggenheim dropped their price objective on FirstEnergy from $46.00 to $44.00 in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $41.44.
FirstEnergy Trading Down 0.9 %
FE opened at $36.04 on Friday. The firm has a market cap of $20.66 billion, a price-to-earnings ratio of 45.62, a PEG ratio of 2.23 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 2.07. FirstEnergy Corp. has a 12 month low of $35.58 and a 12 month high of $43.31. The stock has a fifty day moving average price of $38.27 and a 200-day moving average price of $39.03.
FirstEnergy (NYSE:FE – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.89 billion. FirstEnergy had a return on equity of 12.41% and a net margin of 3.55%. As a group, equities research analysts anticipate that FirstEnergy Corp. will post 2.53 earnings per share for the current fiscal year.
FirstEnergy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Friday, August 4th. FirstEnergy’s payout ratio is 197.47%.
FirstEnergy Company Profile
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, wind, and solar power generating facilities.
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