Capital Fund Management S.A. Has $2.13 Million Holdings in FirstEnergy Corp. (FE)
Capital Fund Management S.A. boosted its stake in FirstEnergy Corp. (NYSE:FE) by 544.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,268 shares of the utilities provider’s stock after purchasing an additional 50,068 shares during the period. Capital Fund Management S.A.’s holdings in FirstEnergy were worth $2,128,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Private Capital Group LLC increased its stake in shares of FirstEnergy by 1,890.7% during the first quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock valued at $102,000 after buying an additional 2,836 shares during the period. Reilly Financial Advisors LLC increased its stake in shares of FirstEnergy by 285.8% during the second quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock valued at $103,000 after buying an additional 2,132 shares during the period. IMA Wealth Inc. purchased a new position in shares of FirstEnergy during the second quarter valued at approximately $180,000. Piedmont Investment Advisors LLC purchased a new position in shares of FirstEnergy during the second quarter valued at approximately $189,000. Finally, Signition LP purchased a new position in shares of FirstEnergy during the first quarter valued at approximately $204,000. 94.41% of the stock is currently owned by institutional investors and hedge funds.
FE has been the topic of several research analyst reports. TheStreet raised FirstEnergy from a “c+” rating to a “b” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, June 5th. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. Morgan Stanley boosted their target price on FirstEnergy from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, July 16th. Finally, Bank of America boosted their target price on FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. FirstEnergy has an average rating of “Buy” and a consensus price target of $37.75.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.09. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.56 billion. FirstEnergy had a positive return on equity of 24.39% and a negative net margin of 4.60%. During the same period in the prior year, the firm earned $0.61 earnings per share. equities analysts anticipate that FirstEnergy Corp. will post 2.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Tuesday, August 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $1.44 annualized dividend and a yield of 3.81%. FirstEnergy’s payout ratio is 46.91%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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