New Jersey Better Educational Savings Trust acquired a new position in shares of FirstEnergy Corporation (NYSE:FE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,000 shares of the utilities provider’s stock, valued at approximately $408,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares in the last quarter. LSV Asset Management boosted its stake in shares of FirstEnergy Corporation by 8.2% in the first quarter. LSV Asset Management now owns 14,052,653 shares of the utilities provider’s stock valued at $447,155,000 after buying an additional 1,065,573 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock valued at $343,698,000 after buying an additional 5,141,450 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of FirstEnergy Corporation by 14.1% in the first quarter. Geode Capital Management LLC now owns 5,209,630 shares of the utilities provider’s stock valued at $165,576,000 after buying an additional 642,687 shares in the last quarter. Institutional investors and hedge funds own 78.11% of the company’s stock.

Shares of FirstEnergy Corporation (FE) opened at 32.04 on Friday. The stock’s market cap is $14.24 billion. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $34.96. The firm has a 50-day moving average price of $30.53 and a 200 day moving average price of $30.34.

FirstEnergy Corporation (NYSE:FE) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company earned $0.56 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts forecast that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s payout ratio is -12.31%.

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Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reiterated a “hold” rating and set a $34.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and set a $33.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. ValuEngine upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research cut FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Morgan Stanley set a $39.00 price target on FirstEnergy Corporation and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $33.71.

FirstEnergy Corporation Company Profile

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

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Institutional Ownership by Quarter for FirstEnergy Corporation (NYSE:FE)

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