FirstEnergy Corporation (FE) Stake Reduced by Tudor Investment Corp ET AL
Tudor Investment Corp ET AL cut its position in shares of FirstEnergy Corporation (NYSE:FE) by 68.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,800 shares of the utilities provider’s stock after selling 32,820 shares during the period. Tudor Investment Corp ET AL’s holdings in FirstEnergy Corporation were worth $471,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Highbridge Capital Management LLC raised its stake in shares of FirstEnergy Corporation by 19.5% in the fourth quarter. Highbridge Capital Management LLC now owns 971,358 shares of the utilities provider’s stock worth $30,083,000 after buying an additional 158,845 shares during the last quarter. BP PLC purchased a new stake in shares of FirstEnergy Corporation during the first quarter worth approximately $1,591,000. Washington Trust Bank raised its stake in shares of FirstEnergy Corporation by 522.0% in the first quarter. Washington Trust Bank now owns 13,534 shares of the utilities provider’s stock worth $431,000 after buying an additional 11,358 shares during the last quarter. Northpointe Capital LLC raised its stake in shares of FirstEnergy Corporation by 23.0% in the first quarter. Northpointe Capital LLC now owns 127,080 shares of the utilities provider’s stock worth $4,044,000 after buying an additional 23,752 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of FirstEnergy Corporation by 53.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,022 shares of the utilities provider’s stock worth $341,000 after buying an additional 3,847 shares during the last quarter. Institutional investors own 78.11% of the company’s stock.
FirstEnergy Corporation (NYSE:FE) traded up 0.50% during midday trading on Tuesday, reaching $31.95. The company’s stock had a trading volume of 3,422,196 shares. The firm’s market cap is $14.20 billion. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.96. The firm has a 50 day moving average of $30.30 and a 200 day moving average of $30.31.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. FirstEnergy Corporation’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Analysts anticipate that FirstEnergy Corporation will post $2.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio is currently -12.31%.
FE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Thursday, June 22nd. Morgan Stanley set a $38.00 target price on FirstEnergy Corporation and gave the stock a “buy” rating in a report on Tuesday, July 4th. ValuEngine upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a report on Monday. Barclays PLC restated an “equal weight” rating and set a $38.00 target price (up previously from $35.00) on shares of FirstEnergy Corporation in a report on Sunday, April 23rd. Finally, Jefferies Group LLC reduced their target price on FirstEnergy Corporation from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $34.09.
FirstEnergy Corporation 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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