Raymond James & Associates lowered its holdings in shares of FirstEnergy Corp. (NYSE:FE – Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 461,019 shares of the utilities provider’s stock after selling 11,167 shares during the period. Raymond James & Associates owned about 0.08% of FirstEnergy worth $17,924,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in FE. Vanguard Group Inc. lifted its position in FirstEnergy by 7.0% in the first quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock valued at $3,128,322,000 after purchasing an additional 4,443,050 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in FirstEnergy by 13.2% during the 1st quarter. Ameriprise Financial Inc. now owns 11,744,900 shares of the utilities provider’s stock valued at $470,512,000 after buying an additional 1,373,826 shares during the last quarter. Geode Capital Management LLC grew its holdings in FirstEnergy by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 11,526,479 shares of the utilities provider’s stock worth $460,739,000 after acquiring an additional 300,442 shares during the last quarter. Morgan Stanley increased its position in shares of FirstEnergy by 2.4% in the fourth quarter. Morgan Stanley now owns 7,515,260 shares of the utilities provider’s stock valued at $315,190,000 after acquiring an additional 177,489 shares during the period. Finally, Northern Trust Corp raised its stake in shares of FirstEnergy by 0.5% during the first quarter. Northern Trust Corp now owns 5,171,444 shares of the utilities provider’s stock valued at $237,162,000 after acquiring an additional 27,650 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.
FirstEnergy Stock Performance
Shares of FE opened at $35.60 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 2.07. The stock has a market cap of $20.41 billion, a P/E ratio of 45.06 and a beta of 0.46. The business’s 50 day moving average price is $35.69 and its 200-day moving average price is $37.97. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $43.31.
FirstEnergy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, December 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, November 6th. This is an increase from FirstEnergy’s previous quarterly dividend of $0.39. FirstEnergy’s dividend payout ratio is currently 207.59%.
Analysts Set New Price Targets
Several analysts recently issued reports on FE shares. UBS Group cut FirstEnergy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $40.00 in a research note on Monday, August 7th. Morgan Stanley boosted their target price on FirstEnergy from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, September 21st. StockNews.com assumed coverage on FirstEnergy in a research note on Friday, October 6th. They issued a “sell” rating for the company. TheStreet downgraded shares of FirstEnergy from a “b” rating to a “c+” rating in a research report on Friday, August 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of FirstEnergy from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.20.
Read Our Latest Stock Analysis on FE
FirstEnergy 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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