ING Groep NV Boosts Stake in FirstEnergy Corp. (FE)
ING Groep NV increased its position in FirstEnergy Corp. (NYSE:FE) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,535 shares of the company’s stock after buying an additional 2,695 shares during the period. ING Groep NV’s holdings in FirstEnergy Corp. were worth $1,240,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Aperio Group LLC raised its stake in FirstEnergy Corp. by 17.3% in the first quarter. Aperio Group LLC now owns 114,601 shares of the company’s stock worth $4,122,000 after buying an additional 16,880 shares during the period. Ngam Advisors L.P. increased its position in FirstEnergy Corp. by 48.6% in the first quarter. Ngam Advisors L.P. now owns 15,257 shares of the company’s stock worth $549,000 after buying an additional 4,993 shares in the last quarter. Franklin Resources Inc. increased its position in FirstEnergy Corp. by 65.0% in the first quarter. Franklin Resources Inc. now owns 2,285,500 shares of the company’s stock worth $82,209,000 after buying an additional 900,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in FirstEnergy Corp. by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,037,698 shares of the company’s stock worth $397,026,000 after buying an additional 143,204 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in FirstEnergy Corp. by 132.2% in the first quarter. JPMorgan Chase & Co. now owns 1,211,812 shares of the company’s stock worth $43,589,000 after buying an additional 689,925 shares in the last quarter. 75.93% of the stock is owned by institutional investors and hedge funds.
Shares of FirstEnergy Corp. (NYSE:FE) traded up 0.25% on Thursday, reaching $31.47. The company had a trading volume of 4,321,161 shares. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60. The company’s 50-day moving average price is $33.01 and its 200-day moving average price is $33.98. The firm’s market capitalization is $13.38 billion.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.05% and a negative net margin of 3.96%. During the same quarter last year, the business posted $0.53 EPS. On average, analysts predict that FirstEnergy Corp. will post $2.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is -103.60%.
A number of research firms recently commented on FE. Barclays PLC set a $36.00 price objective on FirstEnergy Corp. and gave the stock a “hold” rating in a report on Saturday, September 17th. Jefferies Group restated a “hold” rating and issued a $36.00 price objective on shares of FirstEnergy Corp. in a report on Tuesday, August 16th. Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $41.00 to $40.00 in a report on Monday, August 8th. Morgan Stanley upgraded FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. downgraded FirstEnergy Corp. from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $36.00 to $31.00 in a report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. FirstEnergy Corp. has a consensus 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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