Comerica Bank Has $3.26 Million Position in FirstEnergy Corp. (NYSE:FE)

Comerica Bank increased its position in FirstEnergy Corp. (NYSE:FEGet Rating) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,433 shares of the utilities provider’s stock after buying an additional 4,228 shares during the quarter. Comerica Bank’s holdings in FirstEnergy were worth $3,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in FirstEnergy during the 3rd quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new stake in FirstEnergy during the 2nd quarter valued at approximately $29,000. SJS Investment Consulting Inc. acquired a new stake in FirstEnergy during the 3rd quarter valued at approximately $30,000. Allworth Financial LP increased its position in FirstEnergy by 64.7% during the 2nd quarter. Allworth Financial LP now owns 858 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 337 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in FirstEnergy during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 81.80% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE stock opened at $42.73 on Monday. FirstEnergy Corp. has a 52 week low of $35.32 and a 52 week high of $48.85. The firm has a 50 day moving average of $40.76 and a 200-day moving average of $39.54. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.86. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 2.67 and a beta of 0.45.

FirstEnergy (NYSE:FEGet Rating) last issued its earnings results on Tuesday, October 25th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. FirstEnergy had a return on equity of 13.76% and a net margin of 10.35%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the business earned $0.82 EPS. FirstEnergy’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts forecast that FirstEnergy Corp. will post 2.43 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 7th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, February 6th. FirstEnergy’s dividend payout ratio is currently 71.23%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FE shares. StockNews.com started coverage on shares of FirstEnergy in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Guggenheim decreased their target price on shares of FirstEnergy from $43.00 to $34.00 in a research report on Monday, October 24th. Morgan Stanley increased their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. Wells Fargo & Company raised their price objective on shares of FirstEnergy to $45.00 in a research report on Wednesday, December 14th. Finally, KeyCorp reduced their price objective on shares of FirstEnergy from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $43.25.

FirstEnergy Profile

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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, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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