Ameriprise Financial Inc. Has $7,998,000 Position in FirstEnergy Corp. (FE)
Ameriprise Financial Inc. cut its stake in shares of FirstEnergy Corp. (NYSE:FE) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,123 shares of the company’s stock after selling 14,568 shares during the period. Ameriprise Financial Inc. owned 0.05% of FirstEnergy Corp. worth $7,998,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. increased its position in shares of FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock valued at $141,000 after buying an additional 3,714 shares during the period. Checchi Capital Advisers LLC increased its position in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock valued at $160,000 after buying an additional 281 shares during the period. City Holding Co. increased its position in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock valued at $170,000 after buying an additional 782 shares during the period. Concert Wealth Management Inc. bought a new position in shares of FirstEnergy Corp. during the second quarter valued at $220,000. Finally, Sequoia Financial Advisors LLC increased its position in shares of FirstEnergy Corp. by 8.3% in the second quarter. Sequoia Financial Advisors LLC now owns 6,676 shares of the company’s stock valued at $233,000 after buying an additional 510 shares during the period. Institutional investors own 75.93% of the company’s stock.
FirstEnergy Corp. (NYSE:FE) traded up 0.96% during trading on Thursday, reaching $31.69. The company had a trading volume of 2,001,552 shares. The stock’s market cap is $13.47 billion. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60. The company has a 50-day moving average price of $33.05 and a 200 day moving average price of $33.99.
FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a negative net margin of 3.96% and a positive return on equity of 10.05%. During the same period last year, the business posted $0.53 earnings per share. On average, analysts anticipate that FirstEnergy Corp. will post $2.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is -103.60%.
A number of research firms recently weighed in on FE. Barclays PLC set a $36.00 price target on FirstEnergy Corp. and gave the company a “hold” rating in a research note on Saturday, September 17th. Jefferies Group restated a “hold” rating and issued a $36.00 price target on shares of FirstEnergy Corp. in a research note on Tuesday, August 16th. Goldman Sachs Group Inc. downgraded FirstEnergy Corp. from a “neutral” rating to a “sell” rating and decreased their price target for the company from $36.00 to $31.00 in a research note on Tuesday, July 26th. Citigroup Inc. lifted their price target on FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a research note on Wednesday, July 20th. Finally, Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and decreased their price target for the company from $41.00 to $40.00 in a research note on Monday, August 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.82.
About FirstEnergy Corp.
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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