American Century Companies Inc. Acquires 32,646 Shares of FirstEnergy Corp. (FE)
American Century Companies Inc. increased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,177,433 shares of the utilities provider’s stock after acquiring an additional 32,646 shares during the quarter. American Century Companies Inc.’s holdings in FirstEnergy were worth $97,293,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of FE. Public Employees Retirement Association of Colorado raised its stake in FirstEnergy by 3.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 85,931 shares of the utilities provider’s stock worth $2,631,000 after purchasing an additional 2,832 shares during the period. SeaCrest Wealth Management LLC purchased a new position in FirstEnergy during the fourth quarter worth about $515,000. US Bancorp DE raised its stake in FirstEnergy by 6.9% during the fourth quarter. US Bancorp DE now owns 34,405 shares of the utilities provider’s stock worth $1,053,000 after purchasing an additional 2,221 shares during the period. Comerica Bank raised its stake in FirstEnergy by 2.4% during the fourth quarter. Comerica Bank now owns 114,675 shares of the utilities provider’s stock worth $3,567,000 after purchasing an additional 2,656 shares during the period. Finally, Engineers Gate Manager LP raised its stake in FirstEnergy by 19.3% during the fourth quarter. Engineers Gate Manager LP now owns 238,096 shares of the utilities provider’s stock worth $7,290,000 after purchasing an additional 38,495 shares during the period. Hedge funds and other institutional investors own 83.29% of the company’s stock.
A number of equities analysts have commented on FE shares. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, January 2nd. Wolfe Research raised shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a research note on Monday, January 29th. Bank of America started coverage on shares of FirstEnergy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $34.00 target price on the stock. Deutsche Bank raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. Finally, Guggenheim reaffirmed a “buy” rating and set a $47.00 target price on shares of FirstEnergy in a research note on Wednesday, January 3rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $35.67.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is -12.23%.
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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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