BB&T Securities LLC Trims Holdings in FirstEnergy Corporation (FE)
BB&T Securities LLC lowered its position in FirstEnergy Corporation (NYSE:FE) by 31.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,732 shares of the utilities provider’s stock after selling 29,727 shares during the quarter. BB&T Securities LLC’s holdings in FirstEnergy were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC lifted its stake in FirstEnergy by 22.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock valued at $106,000 after buying an additional 658 shares during the last quarter. Sandy Spring Bank raised its stake in shares of FirstEnergy by 1.3% during the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 66 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of FirstEnergy by 32.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,755 shares of the utilities provider’s stock worth $168,000 after purchasing an additional 1,394 shares during the last quarter. Accurate Investment Solutions Inc. raised its stake in shares of FirstEnergy by 767.8% during the third quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock worth $170,000 after purchasing an additional 4,860 shares during the last quarter. Finally, Tiedemann Wealth Management LLC raised its stake in shares of FirstEnergy by 170.5% during the third quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 14,123 shares during the last quarter. Institutional investors own 82.70% of the company’s stock.
Shares of FirstEnergy Corporation (NYSE:FE) traded down $0.23 during mid-day trading on Wednesday, reaching $32.35. The company had a trading volume of 5,046,000 shares, compared to its average volume of 4,266,064. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $35.22. The firm has a market capitalization of $14,493.47, a price-to-earnings ratio of 11.93 and a beta of 0.25. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Monday, November 6th. FirstEnergy’s dividend payout ratio is presently -12.31%.
Several equities research analysts have recently commented on FE shares. Mizuho restated a “hold” rating and set a $30.50 price target on shares of FirstEnergy in a research note on Tuesday, October 24th. KeyCorp restated a “hold” rating on shares of FirstEnergy in a research note on Friday, October 20th. J P Morgan Chase & Co set a $34.00 price target on FirstEnergy and gave the stock a “hold” rating in a research note on Thursday, October 12th. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Morgan Stanley upped their price target on FirstEnergy from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.39.
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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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