Gotham Asset Management LLC trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 71.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,304 shares of the utilities provider’s stock after selling 85,982 shares during the period. Gotham Asset Management LLC’s holdings in FirstEnergy were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in FE. Whittier Trust Co. of Nevada Inc. acquired a new position in FirstEnergy during the fourth quarter worth $34,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of FirstEnergy by 98.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 666 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at about $52,000. Oregon Public Employees Retirement Fund grew its position in shares of FirstEnergy by 3,931.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,984,292 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,935,070 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its position in shares of FirstEnergy by 251.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,433 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 90.75% of the company’s stock.
Several equities research analysts have recently issued reports on FE shares. Morgan Stanley raised their price target on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $46.00 in a research report on Wednesday, March 20th. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, January 11th. Finally, Bank of America raised their price target on FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. FirstEnergy has a consensus rating of “Buy” and an average price target of $42.86.
FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the business earned $0.71 earnings per share. On average, equities research analysts anticipate that FirstEnergy Corp. will post 2.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.
In related news, EVP Leila L. Vespoli sold 24,400 shares of FirstEnergy stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $41.33, for a total transaction of $1,008,452.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by company insiders.
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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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