US Bancorp DE raised its position in shares of FirstEnergy Corporation (NYSE:FE) by 15.1% during the second quarter, Holdings Channel reports. The fund owned 29,153 shares of the utilities provider’s stock after buying an additional 3,825 shares during the period. US Bancorp DE’s holdings in FirstEnergy Corporation were worth $850,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FE. 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 worth $1,230,678,000 after buying an additional 37,741,283 shares during 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 worth $343,698,000 after buying an additional 5,141,450 shares during 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 worth $1,144,430,000 after buying an additional 2,378,538 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of FirstEnergy Corporation by 73.2% in the first quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock worth $162,172,000 after buying an additional 2,154,657 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of FirstEnergy Corporation by 54.8% in the first quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock worth $140,747,000 after buying an additional 1,566,627 shares during the last quarter. Institutional investors own 78.11% of the company’s stock.

FirstEnergy Corporation (NYSE FE) traded up 0.37% during mid-day trading on Friday, reaching $32.16. 1,628,371 shares of the company were exchanged. The stock’s market capitalization is $14.29 billion. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96. The stock has a 50 day moving average of $30.53 and a 200-day moving average of $30.34.

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

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

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FE has been the topic of a number of recent research reports. J P Morgan Chase & Co cut shares of FirstEnergy Corporation from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $32.00 in a research note on Monday, May 1st. Mizuho restated a “neutral” rating and set a $31.25 price target on shares of FirstEnergy Corporation in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) cut shares of FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a research note on Monday, June 26th. Barclays PLC upgraded shares of FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $38.00 to $36.00 in a research note on Monday, May 1st. Finally, Morgan Stanley restated an “overweight” rating on shares of FirstEnergy Corporation in a research note on Tuesday, July 11th. One equities research 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. The company has a consensus rating of “Hold” and an average price target of $33.71.

About FirstEnergy Corporation

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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