Old Mutual Global Investors UK Ltd. Has $736,000 Stake in FirstEnergy Corporation (FE)
Old Mutual Global Investors UK Ltd. decreased its stake in shares of FirstEnergy Corporation (NYSE:FE) by 97.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,255 shares of the utilities provider’s stock after selling 1,161,804 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in FirstEnergy Corporation were worth $736,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. IFM Investors Pty Ltd acquired a new position in shares of FirstEnergy Corporation during the 2nd quarter valued at about $404,000. LSV Asset Management increased its holdings in shares of FirstEnergy Corporation by 2.7% during the 2nd quarter. LSV Asset Management now owns 14,438,631 shares of the utilities provider’s stock valued at $421,030,000 after acquiring an additional 385,978 shares during the last quarter. Ffcm LLC increased its holdings in shares of FirstEnergy Corporation by 22.4% during the 2nd quarter. Ffcm LLC now owns 19,574 shares of the utilities provider’s stock valued at $570,000 after acquiring an additional 3,578 shares during the last quarter. Calamos Advisors LLC increased its holdings in shares of FirstEnergy Corporation by 155.0% during the 2nd quarter. Calamos Advisors LLC now owns 127,695 shares of the utilities provider’s stock valued at $3,724,000 after acquiring an additional 77,623 shares during the last quarter. Finally, P Schoenfeld Asset Management LP acquired a new position in shares of FirstEnergy Corporation during the 2nd quarter valued at about $11,708,000. 79.86% of the stock is currently owned by institutional investors and hedge funds.
FE has been the topic of a number of analyst reports. Zacks Investment Research raised FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, June 22nd. Morgan Stanley set a $38.00 price objective on FirstEnergy Corporation and gave the company a “buy” rating in a report on Tuesday, July 4th. ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Tudor Pickering raised FirstEnergy Corporation from a “trim” rating to a “hold” rating in a report on Friday, July 14th. Finally, BidaskClub raised FirstEnergy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.88.
Shares of FirstEnergy Corporation (NYSE FE) opened at 32.21 on Monday. The firm’s market cap is $14.31 billion. The stock’s 50 day moving average price is $32.22 and its 200 day moving average price is $30.70. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96.
FirstEnergy Corporation (NYSE:FE) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.61 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 in the prior year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that FirstEnergy Corporation will post $2.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Thursday, August 3rd. FirstEnergy Corporation’s payout ratio is -12.31%.
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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