Banco de Sabadell S.A purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 151,697 shares of the utilities provider’s stock, valued at approximately $4,644,000.
Several other institutional investors and hedge funds also recently made changes to their positions in FE. Baker Ellis Asset Management LLC acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $122,000. Tower Research Capital LLC TRC raised its position in shares of FirstEnergy by 344.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock valued at $147,000 after buying an additional 3,714 shares during the last quarter. Tiedemann Wealth Management LLC raised its position 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 valued at $171,000 after buying an additional 14,123 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of FirstEnergy during the fourth quarter valued at about $228,000. Finally, Farmers Trust Co. acquired a new position in FirstEnergy in the fourth quarter worth about $251,000. 78.74% of the stock is owned by institutional investors and hedge funds.
Shares of FE stock opened at $33.74 on Wednesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.65 and a current ratio of 0.76. The firm has a market cap of $16,117.74, a PE ratio of -8.70, a price-to-earnings-growth ratio of 14.19 and a beta of 0.34. FirstEnergy Corp. has a 52 week low of $27.93 and a 52 week high of $35.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.27%. FirstEnergy’s dividend payout ratio is -37.11%.
Several research analysts recently issued reports on FE shares. Morgan Stanley set a $35.00 price target on shares of FirstEnergy and gave the stock a “buy” rating in a research report on Thursday, March 8th. UBS started coverage on shares of FirstEnergy in a research report on Friday, February 2nd. They issued a “buy” rating and a $39.00 price target for the company. Guggenheim reissued a “buy” rating and issued a $47.00 price target on shares of FirstEnergy in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $32.09 to $36.00 in a research report on Friday, January 26th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. FirstEnergy presently has a consensus rating of “Buy” and an average price target of $35.29.
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FirstEnergy 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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