P Schoenfeld Asset Management LP decreased its stake in FirstEnergy Corporation (NYSE:FE) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,000 shares of the utilities provider’s stock after selling 51,500 shares during the period. FirstEnergy Corporation accounts for about 0.7% of P Schoenfeld Asset Management LP’s holdings, making the stock its 25th biggest holding. P Schoenfeld Asset Management LP owned 0.08% of FirstEnergy Corporation worth $10,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in FirstEnergy Corporation by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 920,225 shares of the utilities provider’s stock worth $29,278,000 after purchasing an additional 28,974 shares during the period. LS Investment Advisors LLC grew its stake in FirstEnergy Corporation by 9.8% during the second quarter. LS Investment Advisors LLC now owns 23,190 shares of the utilities provider’s stock worth $676,000 after purchasing an additional 2,076 shares during the period. Louisiana State Employees Retirement System grew its stake in FirstEnergy Corporation by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the utilities provider’s stock worth $802,000 after purchasing an additional 300 shares during the period. State Treasurer State of Michigan grew its stake in FirstEnergy Corporation by 0.3% during the second quarter. State Treasurer State of Michigan now owns 145,853 shares of the utilities provider’s stock worth $4,253,000 after purchasing an additional 500 shares during the period. Finally, US Bancorp DE grew its stake in FirstEnergy Corporation by 15.1% during the second quarter. US Bancorp DE now owns 29,153 shares of the utilities provider’s stock worth $850,000 after purchasing an additional 3,825 shares during the period. 81.59% of the stock is owned by institutional investors.

A number of equities research analysts have commented on FE shares. Bank of America Corporation started coverage on FirstEnergy Corporation in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 price objective for the company. Evercore ISI raised FirstEnergy Corporation from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 price objective (up previously from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. Zacks Investment Research cut FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Finally, ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $34.39.

Shares of FirstEnergy Corporation (NYSE FE) traded up $0.01 during midday trading on Monday, hitting $34.65. The stock had a trading volume of 4,260,600 shares, compared to its average volume of 4,254,148. The stock has a market capitalization of $15,410.00, a PE ratio of 12.69 and a beta of 0.24. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $35.22. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69.

FirstEnergy Corporation (NYSE:FE) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.11. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period in the previous year, the business earned $0.90 earnings per share. analysts predict that FirstEnergy Corporation will post 3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Monday, November 6th. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.23%.

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FirstEnergy Corporation 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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