FirstEnergy Corp. (NYSE:FE) Stock Position Lowered by Flippin Bruce & Porter Inc.

Flippin Bruce & Porter Inc. reduced its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,139 shares of the utilities provider’s stock after selling 10,273 shares during the quarter. FirstEnergy comprises 2.3% of Flippin Bruce & Porter Inc.’s investment portfolio, making the stock its 10th biggest position. Flippin Bruce & Porter Inc.’s holdings in FirstEnergy were worth $12,884,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Montag A & Associates Inc. increased its holdings in FirstEnergy by 0.9% during the 3rd quarter. Montag A & Associates Inc. now owns 89,331 shares of the utilities provider’s stock worth $4,308,000 after acquiring an additional 798 shares during the period. SG Americas Securities LLC increased its holdings in FirstEnergy by 17.8% during the 3rd quarter. SG Americas Securities LLC now owns 178,022 shares of the utilities provider’s stock worth $8,586,000 after acquiring an additional 26,895 shares during the period. First Trust Advisors LP increased its holdings in FirstEnergy by 50.7% during the 3rd quarter. First Trust Advisors LP now owns 1,282,213 shares of the utilities provider’s stock worth $61,841,000 after acquiring an additional 431,300 shares during the period. Daiwa Securities Group Inc. increased its holdings in FirstEnergy by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 22,493 shares of the utilities provider’s stock worth $1,085,000 after acquiring an additional 1,270 shares during the period. Finally, Keybank National Association OH increased its holdings in FirstEnergy by 135.6% during the 3rd quarter. Keybank National Association OH now owns 38,865 shares of the utilities provider’s stock worth $1,874,000 after acquiring an additional 22,367 shares during the period. Institutional investors own 94.22% of the company’s stock.

A number of analysts recently weighed in on the stock. Bank of America lowered shares of FirstEnergy from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. They noted that the move was a valuation call. TheStreet lowered shares of FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. Morgan Stanley lowered shares of FirstEnergy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $50.00 to $49.00 in a report on Tuesday. ValuEngine lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Mizuho lowered shares of FirstEnergy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $48.00 to $48.50 in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $48.50.

Shares of NYSE:FE traded down $0.13 during trading on Friday, reaching $46.59. The company had a trading volume of 4,335,676 shares, compared to its average volume of 4,246,722. The company has a fifty day moving average of $47.93 and a two-hundred day moving average of $44.75. The stock has a market capitalization of $25.23 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.13 and a beta of 0.18. FirstEnergy Corp. has a 12 month low of $35.33 and a 12 month high of $49.07. The company has a current ratio of 0.62, a quick ratio of 0.53 and a debt-to-equity ratio of 2.67.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.91 billion. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts predict that FirstEnergy Corp. will post 2.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, November 6th. FirstEnergy’s payout ratio is 58.69%.

FirstEnergy Profile

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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