FirstEnergy Corp. (FE) Short Interest Update
FirstEnergy Corp. (NYSE:FE) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 12,231,776 shares, an increase of 33.3% from the October 14th total of 9,176,906 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average trading volume of 4,895,820 shares, the short-interest ratio is presently 2.5 days.
A number of equities research analysts have recently issued reports on FE shares. Barclays PLC set a $36.00 price objective on shares of FirstEnergy Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Deutsche Bank AG raised shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating and cut their price objective for the company from $38.00 to $37.00 in a research report on Tuesday, October 25th. Royal Bank Of Canada cut their price objective on shares of FirstEnergy Corp. from $38.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. Vetr downgraded shares of FirstEnergy Corp. from a “strong-buy” rating to a “buy” rating and set a $35.82 target price for the company. in a report on Tuesday, November 15th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $34.50 target price (up previously from $34.00) on shares of FirstEnergy Corp. in a report on Tuesday, October 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.19.
A number of hedge funds have recently added to or reduced their stakes in FE. State Street Corp raised its stake in FirstEnergy Corp. by 0.6% in the second quarter. State Street Corp now owns 33,057,350 shares of the company’s stock valued at $1,154,024,000 after buying an additional 190,218 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of FirstEnergy Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 31,770,623 shares of the company’s stock valued at $1,109,112,000 after buying an additional 1,160,545 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of FirstEnergy Corp. by 1.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 11,431,536 shares of the company’s stock valued at $378,155,000 after buying an additional 177,565 shares during the period. LSV Asset Management raised its stake in shares of FirstEnergy Corp. by 6.6% in the third quarter. LSV Asset Management now owns 11,162,426 shares of the company’s stock valued at $369,253,000 after buying an additional 694,460 shares during the period. Finally, BlackRock Fund Advisors raised its stake in shares of FirstEnergy Corp. by 2.9% in the third quarter. BlackRock Fund Advisors now owns 10,934,421 shares of the company’s stock valued at $361,711,000 after buying an additional 311,599 shares during the period. Institutional investors own 74.29% of the company’s stock.
FirstEnergy Corp. (NYSE:FE) opened at 31.40 on Friday. The company’s market capitalization is $13.37 billion. FirstEnergy Corp. has a one year low of $29.62 and a one year high of $36.60. The company’s 50-day moving average is $32.92 and its 200 day moving average is $33.52.
FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings results on Friday, November 4th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.14. FirstEnergy Corp. had a negative net margin of 4.12% and a positive return on equity of 10.06%. During the same quarter last year, the firm earned $0.98 EPS. On average, equities analysts anticipate that FirstEnergy Corp. will post $2.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.44 annualized dividend and a yield of 4.59%. FirstEnergy Corp.’s dividend payout ratio is presently -100.70%.
FirstEnergy Corp. Company Profile
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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