FirstEnergy Corp. (FE) Position Boosted by Securian Asset Management Inc

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Securian Asset Management Inc increased its position in FirstEnergy Corp. (NYSE:FE) by 5.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 51,559 shares of the utilities provider’s stock after purchasing an additional 2,465 shares during the period. Securian Asset Management Inc’s holdings in FirstEnergy were worth $2,145,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FE. Kaizen Advisory LLC grew its stake in shares of FirstEnergy by 23.6% in the fourth quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 254 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of FirstEnergy by 1.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 16,417 shares of the utilities provider’s stock valued at $618,000 after buying an additional 255 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in FirstEnergy by 0.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 70,598 shares of the utilities provider’s stock valued at $2,651,000 after acquiring an additional 283 shares during the period. Investors Research Corp lifted its holdings in FirstEnergy by 1.2% in the fourth quarter. Investors Research Corp now owns 25,016 shares of the utilities provider’s stock valued at $939,000 after acquiring an additional 300 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in FirstEnergy by 13.7% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,499 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 302 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Shares of FE opened at $41.97 on Friday. The company has a market cap of $22.34 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 2.71 and a beta of 0.30. FirstEnergy Corp. has a 12-month low of $32.92 and a 12-month high of $42.24. 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 (NYSE:FE) last issued its earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.01). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.88 billion. FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. On average, equities analysts expect that FirstEnergy Corp. will post 2.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.62%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 58.69%.

FE has been the topic of a number of recent research reports. Morgan Stanley increased their target price on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $46.00 in a report on Wednesday, March 20th. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Friday, January 11th. Finally, Bank of America lifted their target price on FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $42.86.

In other news, EVP Leila L. Vespoli sold 24,400 shares of FirstEnergy stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $41.33, for a total value of $1,008,452.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

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About FirstEnergy

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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