BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $4.05 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of FirstEnergy Corp. (NYSE:FE) by 12.8% in the third quarter, Holdings Channel reports. The firm owned 91,209 shares of the utilities provider’s stock after selling 13,393 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FirstEnergy were worth $4,045,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of FirstEnergy by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock worth $403,517,000 after purchasing an additional 457,231 shares in the last quarter. First Pacific Advisors LP lifted its holdings in FirstEnergy by 2.0% during the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock worth $136,152,000 after acquiring an additional 69,512 shares in the last quarter. 1832 Asset Management L.P. grew its stake in FirstEnergy by 7.6% in the second quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after acquiring an additional 193,540 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of FirstEnergy by 7.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after acquiring an additional 171,955 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of FirstEnergy by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,896,140 shares of the utilities provider’s stock worth $72,570,000 after purchasing an additional 104,253 shares during the period. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FE shares. KeyCorp boosted their price objective on FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America increased their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barclays increased their target price on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.91.

FirstEnergy Stock Performance

FE opened at $41.41 on Wednesday. The business’s 50-day simple moving average is $42.65 and its 200 day simple moving average is $41.56. FirstEnergy Corp. has a 52-week low of $35.41 and a 52-week high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The firm has a market capitalization of $23.86 billion, a PE ratio of 26.71, a PEG ratio of 2.25 and a beta of 0.51.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts expect that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.11%. FirstEnergy’s dividend payout ratio is presently 109.68%.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.