FirstEnergy Corp. (FE) Shares Bought by Sun Life Financial INC
Sun Life Financial INC grew its position in shares of FirstEnergy Corp. (NYSE:FE) by 193.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 57,541 shares of the utilities provider’s stock after buying an additional 37,915 shares during the quarter. Sun Life Financial INC’s holdings in FirstEnergy were worth $1,762,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. NWQ Investment Management Company LLC bought a new stake in shares of FirstEnergy in the 3rd quarter worth approximately $70,441,000. APG Asset Management N.V. lifted its holdings in shares of 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 worth $96,783,000 after purchasing an additional 1,816,000 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of FirstEnergy by 2.8% in the 4th quarter. BlackRock Inc. now owns 52,723,417 shares of the utilities provider’s stock worth $1,614,390,000 after purchasing an additional 1,431,172 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of FirstEnergy by 4,057.3% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,060,105 shares of the utilities provider’s stock worth $32,460,000 after purchasing an additional 1,034,605 shares during the last quarter. Finally, AXA lifted its holdings in shares of FirstEnergy by 7,554.9% in the 3rd quarter. AXA now owns 1,030,430 shares of the utilities provider’s stock worth $31,768,000 after purchasing an additional 1,016,969 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.
FE has been the topic of several recent research reports. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Bank of America raised FirstEnergy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.09 to $36.00 in a report on Friday, January 26th. UBS Group initiated coverage on FirstEnergy in a report on Friday, February 2nd. They issued a “buy” rating and a $39.00 price target on the stock. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley set a $35.00 target price on FirstEnergy and gave the company a “buy” rating in a research report on Tuesday, February 13th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. FirstEnergy currently has a consensus rating of “Buy” and an average price target of $35.29.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. FirstEnergy had a positive return on equity of 24.02% and a negative net margin of 12.30%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. equities analysts anticipate that FirstEnergy Corp. will post 2.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Tuesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is presently -37.11%.
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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