DT Investment Partners LLC Purchases Shares of 22,876 FirstEnergy Corp. (FE)
DT Investment Partners LLC acquired a new stake in shares of FirstEnergy Corp. (NYSE:FE) during the second quarter, Holdings Channel reports. The institutional investor acquired 22,876 shares of the company’s stock, valued at approximately $799,000.
Several other institutional investors also recently added to or reduced their stakes in FE. Adage Capital Partners GP L.L.C. increased its position in FirstEnergy Corp. by 5.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,140,851 shares of the company’s stock valued at $77,006,000 after buying an additional 110,916 shares in the last quarter. Credit Agricole S A increased its position in FirstEnergy Corp. by 45.0% in the first quarter. Credit Agricole S A now owns 347,906 shares of the company’s stock valued at $12,514,000 after buying an additional 107,893 shares during the period. Quadrature Capital Ltd acquired a new position in FirstEnergy Corp. during the first quarter valued at approximately $596,000. Acadian Asset Management LLC increased its position in FirstEnergy Corp. by 324.8% in the second quarter. Acadian Asset Management LLC now owns 28,054 shares of the company’s stock valued at $980,000 after buying an additional 21,450 shares during the period. Finally, Geode Capital Management LLC increased its position in FirstEnergy Corp. by 6.3% in the first quarter. Geode Capital Management LLC now owns 3,704,869 shares of the company’s stock valued at $133,012,000 after buying an additional 219,805 shares during the period. Hedge funds and other institutional investors own 75.86% of the company’s stock.
FirstEnergy Corp. (NYSE:FE) traded up 2.89% on Tuesday, hitting $33.16. 7,351,089 shares of the stock were exchanged. The firm’s market cap is $14.10 billion. The company has a 50-day moving average price of $32.77 and a 200-day moving average price of $33.74. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60.
FirstEnergy Corp. (NYSE:FE) last released its earnings results on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping the Zacks’ 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 in the previous year, the business posted $0.53 EPS. On average, equities research analysts anticipate that FirstEnergy Corp. will post $2.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s payout ratio is -103.60%.
FE has been the topic of several research reports. Evercore ISI upgraded shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America Corp. upgraded shares of 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. Barclays PLC set a $36.00 price target on shares of 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. Finally, RBC Capital Markets restated a “hold” rating and issued a $36.00 price target (down from $38.00) on shares of FirstEnergy Corp. in a research note on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.97.
FirstEnergy Corp. Company Profile
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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