Brookstone Capital Management Has $5.46 Million Stake in FirstEnergy Corporation (FE)
Brookstone Capital Management boosted its stake in FirstEnergy Corporation (NYSE:FE) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 187,235 shares of the utilities provider’s stock after buying an additional 5,023 shares during the period. Brookstone Capital Management’s holdings in FirstEnergy Corporation were worth $5,460,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Oppenheimer Asset Management Inc. purchased a new position in FirstEnergy Corporation during the first quarter valued at $139,000. City Holding Co. boosted its position in FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after buying an additional 400 shares during the period. Sandy Spring Bank boosted its position in FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock valued at $161,000 after buying an additional 97 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in FirstEnergy Corporation during the first quarter worth $215,000. Finally, Tredje AP fonden boosted its position in FirstEnergy Corporation by 781,500.0% in the first quarter. Tredje AP fonden now owns 7,816 shares of the utilities provider’s stock worth $249,000 after buying an additional 7,815 shares during the last quarter. Institutional investors and hedge funds own 78.75% of the company’s stock.
Shares of FirstEnergy Corporation (NYSE:FE) traded up 0.06% during trading on Friday, hitting $32.69. 3,779,592 shares of the stock were exchanged. The stock’s market cap is $14.52 billion. The firm has a 50 day moving average of $31.55 and a 200-day moving average of $30.57. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.96.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company earned $0.56 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. Equities research analysts anticipate that FirstEnergy Corporation will post $2.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio is currently -12.31%.
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FE has been the topic of a number of research analyst reports. BidaskClub cut shares of FirstEnergy Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 10th. Barclays PLC raised shares of FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $38.00 to $36.00 in a research report on Monday, May 1st. Morgan Stanley lowered their price target on shares of FirstEnergy Corporation from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, May 8th. ValuEngine lowered shares of FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) lowered shares of FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $33.80.
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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