Quantbot Technologies LP Acquires 40,386 Shares of FirstEnergy Corporation (FE)
Quantbot Technologies LP increased its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 95.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,628 shares of the utilities provider’s stock after acquiring an additional 40,386 shares during the period. Quantbot Technologies LP’s holdings in FirstEnergy Corporation were worth $2,547,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its position in FirstEnergy Corporation 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 in the last quarter. Sandy Spring Bank boosted its position in FirstEnergy Corporation by 1.3% in the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after buying an additional 66 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in FirstEnergy Corporation by 32.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,755 shares of the utilities provider’s stock valued at $168,000 after buying an additional 1,394 shares in the last quarter. Accurate Investment Solutions Inc. boosted its position in FirstEnergy Corporation by 767.8% in the third quarter. Accurate Investment Solutions Inc. now owns 5,493 shares of the utilities provider’s stock valued at $170,000 after buying an additional 4,860 shares in the last quarter. Finally, IBM Retirement Fund acquired a new position in FirstEnergy Corporation in the third quarter valued at about $204,000. Institutional investors and hedge funds own 79.23% of the company’s stock.
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FirstEnergy Corporation (FE) traded down $0.14 on Friday, hitting $34.64. 1,862,100 shares of the company were exchanged, compared to its average volume of 4,254,119. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. The company has a market capitalization of $15,472.16, a P/E ratio of 12.74 and a beta of 0.24. FirstEnergy Corporation has a twelve month low of $27.93 and a twelve month high of $35.22.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.11. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy Corporation had a negative net margin of 35.99% and a positive return on equity of 19.29%. During the same period in the previous year, the firm posted $0.90 earnings per share. equities analysts anticipate that FirstEnergy Corporation will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, November 6th. FirstEnergy Corporation’s dividend payout ratio (DPR) is -12.31%.
A number of equities analysts have commented on FE shares. Zacks Investment Research upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, September 20th. Morgan Stanley set a $39.00 price target on shares of FirstEnergy Corporation and gave the company a “buy” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Deutsche Bank AG upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $33.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.39.
FirstEnergy Corporation 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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