FirstEnergy Corp. (NYSE:FE) Position Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its position in FirstEnergy Corp. (NYSE:FE) by 6.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,393,048 shares of the utilities provider’s stock after acquiring an additional 382,694 shares during the period. Geode Capital Management LLC owned about 1.21% of FirstEnergy worth $239,645,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc increased its position in FirstEnergy by 9.6% in the third quarter. Legal & General Group Plc now owns 3,276,571 shares of the utilities provider’s stock worth $121,743,000 after purchasing an additional 287,205 shares during the period. Morgan Stanley grew its position in shares of FirstEnergy by 17.9% during the 3rd quarter. Morgan Stanley now owns 3,967,041 shares of the utilities provider’s stock worth $147,455,000 after buying an additional 601,988 shares during the period. Vanguard Group Inc grew its position in shares of FirstEnergy by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 58,780,161 shares of the utilities provider’s stock worth $2,184,859,000 after buying an additional 2,480,578 shares during the period. Nisa Investment Advisors LLC grew its position in shares of FirstEnergy by 50.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 106,226 shares of the utilities provider’s stock worth $3,989,000 after buying an additional 35,700 shares during the period. Finally, James Investment Research Inc. grew its position in shares of FirstEnergy by 22.2% during the 4th quarter. James Investment Research Inc. now owns 71,718 shares of the utilities provider’s stock worth $2,693,000 after buying an additional 13,043 shares during the period. Institutional investors own 93.81% of the company’s stock.

NYSE FE traded up $0.62 during trading on Friday, hitting $43.97. The stock had a trading volume of 2,554,386 shares, compared to its average volume of 4,433,967. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.80 and a beta of 0.29. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.47 and a current ratio of 0.54. FirstEnergy Corp. has a 12 month low of $33.82 and a 12 month high of $44.11.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.58 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Monday, May 6th. FirstEnergy’s dividend payout ratio is currently 58.69%.

In other FirstEnergy news, Director Christopher D. Pappas bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $41.14 per share, with a total value of $123,420.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Several research firms have recently issued reports on FE. KeyCorp restated an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a research report on Wednesday, June 5th. Zacks Investment Research upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Wednesday, May 1st. Bank of America boosted their target price on FirstEnergy from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Morgan Stanley set a $44.00 price objective on FirstEnergy and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $46.00 in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $43.25.

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FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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