NWQ Investment Management Company LLC Acquires Shares of 2,284,829 FirstEnergy Corporation (FE)
NWQ Investment Management Company LLC acquired a new stake in FirstEnergy Corporation (NYSE:FE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,284,829 shares of the utilities provider’s stock, valued at approximately $70,441,000. NWQ Investment Management Company LLC owned about 0.51% of FirstEnergy at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of FirstEnergy by 15.1% during the second quarter. US Bancorp DE now owns 29,153 shares of the utilities provider’s stock worth $850,000 after buying an additional 3,825 shares during the last quarter. Strs Ohio grew its stake in shares of FirstEnergy by 11.3% during the second quarter. Strs Ohio now owns 48,365 shares of the utilities provider’s stock worth $1,410,000 after buying an additional 4,911 shares during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of FirstEnergy by 0.6% during the second quarter. Public Employees Retirement Association of Colorado now owns 85,731 shares of the utilities provider’s stock worth $2,500,000 after buying an additional 476 shares during the last quarter. NGAM Advisors L.P. grew its stake in shares of FirstEnergy by 1.3% during the second quarter. NGAM Advisors L.P. now owns 37,139 shares of the utilities provider’s stock worth $1,083,000 after buying an additional 464 shares during the last quarter. Finally, Rothschild Asset Management Inc. grew its stake in shares of FirstEnergy by 9.3% during the second quarter. Rothschild Asset Management Inc. now owns 18,936 shares of the utilities provider’s stock worth $552,000 after buying an additional 1,615 shares during the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on FE shares. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Morgan Stanley set a $39.00 target price on shares of FirstEnergy and gave the stock a “buy” rating in a research note on Thursday, August 10th. Evercore ISI raised shares of FirstEnergy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $35.00 in a research note on Monday, August 14th. ValuEngine cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co set a $34.00 target price on shares of FirstEnergy and gave the stock a “hold” rating in a research note on Thursday, October 12th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.39.
Shares of FirstEnergy Corporation (FE) traded down $0.23 during trading hours on Wednesday, hitting $32.35. 5,046,000 shares of the stock were exchanged, compared to its average volume of 4,266,064. The firm has a market capitalization of $14,493.47, a price-to-earnings ratio of 11.93 and a beta of 0.25. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 3.29. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $35.22.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.11. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.72 billion. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. During the same quarter in the previous year, the business earned $0.90 earnings per share. research 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 was paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.45%. FirstEnergy’s dividend payout ratio (DPR) is presently -12.31%.
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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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