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Principale » Shareholder Luminus Management LLC Has Lifted Firstenergy Corp (FE) Holding

Shareholder Luminus Management LLC Has Lifted Firstenergy Corp (FE) Holding

07 Décembre 2017

The firm acquired 2,284,829 shares of the utilities provider's stock, valued at approximately $70,441,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in FirstEnergy were worth $1,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE grew its stake in shares of FirstEnergy by 15.1% during the second quarter. The hedge fund run by Jonathan Barrett held 8.82M shares of the central company at the end of 2017Q2, valued at $257.25 million, up from 212,500 at the end of the previous reported quarter. BlackRock Inc. raised its stake in shares of FirstEnergy by 13.9% in the 2nd 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 during the last quarter. Morgan Stanley boosted its stake in FirstEnergy 56.9% in the third quarter. Zacks Investment Management now owns 621,759 shares of the utilities provider's stock worth $20,568,000 after buying an additional 50,959 shares during the last quarter. While talking about Performance of the Stock, FirstEnergy Corp. now has a Weekly performance of -3.55%, monthly performance percentage is -1.22 percent, Quarterly performance is 0.15 percent, 6 months performance shows a percent value of 11.02% and Yearly Performance is 6.07 percent. The fund owned 36,134 shares of the utilities provider's stock after buying an additional 3,167 shares during the period. Vanguard Group Inc. raised its stake in shares of FirstEnergy by 23.4% in the 2nd quarter. United Services Automobile Association now owns 139,956 shares of the utilities provider's stock valued at $4,630,000 after buying an additional 8,584 shares during the period.

A number of analysts have recently commented on FE shares. (NYSE:FE) earned "Hold" rating by Jefferies on Tuesday, September 5. Morgan Stanley increased their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, September 8th. Zacks Investment Research lowered shares of FirstEnergy from a "buy" rating to a "hold" rating in a report on Tuesday, September 12th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. They issued a "neutral" rating and a $34.00 price target on the stock. The stock decreased 0.86% or $0.28 during the last trading session, reaching $32.3. The company had a trading volume of 5,046,000 shares, compared to its average volume of 4,266,064. The firm has a market cap of $14,493.47, a P/E ratio of 11.93 and a beta of 0.25.

FirstEnergy Corp. stocks at 0.24 Beta shows lower interdependence with the wider index, however company appear to lack any clear trend indicator at now, however its important to note that present beta has no implications on a stock's future volatility. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $35.22.

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FirstEnergy (NYSE:FE) last announced its quarterly earnings data 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 firm had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.72 billion. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. Equities analysts forecast that FirstEnergy Corp. will post $2.80 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 7th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $1.44 annualized dividend and a dividend yield of 4.45%. FirstEnergy Corp.'s payout ratio is -100.70%.

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With returns from assets performance at -11.60% ROA FirstEnergy Corp. growth does not seem to stacks up against Utilities sector.