19,688 Shares in FirstEnergy Corp. (FE) Acquired by Virtu Financial LLC
Virtu Financial LLC bought a new stake in FirstEnergy Corp. (NYSE:FE) in the 4th quarter, HoldingsChannel.com reports. The fund bought 19,688 shares of the utilities provider’s stock, valued at approximately $603,000.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in FirstEnergy by 2.8% in the 4th quarter. BlackRock Inc. now owns 52,723,417 shares of the utilities provider’s stock valued at $1,614,390,000 after purchasing an additional 1,431,172 shares during the last quarter. LSV Asset Management increased its holdings in FirstEnergy by 3.7% in the 4th quarter. LSV Asset Management now owns 15,371,131 shares of the utilities provider’s stock valued at $470,664,000 after purchasing an additional 549,221 shares during the last quarter. APG Asset Management N.V. increased its holdings in FirstEnergy by 91.7% in the 4th quarter. APG Asset Management N.V. now owns 3,795,477 shares of the utilities provider’s stock valued at $96,783,000 after purchasing an additional 1,816,000 shares during the last quarter. American Century Companies Inc. increased its holdings in FirstEnergy by 1.0% in the 4th quarter. American Century Companies Inc. now owns 3,177,433 shares of the utilities provider’s stock valued at $97,293,000 after purchasing an additional 32,646 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in FirstEnergy by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 2,866,589 shares of the utilities provider’s stock valued at $88,362,000 after purchasing an additional 147,342 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.
Several analysts recently weighed in on FE shares. Zacks Investment Research downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Mizuho reiterated a “hold” rating and issued a $32.00 target price on shares of FirstEnergy in a report on Tuesday, January 30th. Guggenheim reiterated a “buy” rating and issued a $47.00 target price on shares of FirstEnergy in a report on Wednesday, January 3rd. ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Finally, Citigroup dropped their target price on shares of FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, January 30th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.29.
FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.54 billion. FirstEnergy had a negative net margin of 12.30% and a positive return on equity of 24.02%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. sell-side analysts forecast that FirstEnergy Corp. will post 2.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.46%. FirstEnergy’s dividend payout ratio (DPR) is -37.21%.
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FirstEnergy 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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