Brookfield Corp ON Trims Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Brookfield Corp ON lowered its holdings in FirstEnergy Corp. (NYSE:FE) by 9.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,790,417 shares of the utilities provider’s stock after selling 388,772 shares during the period. FirstEnergy comprises 0.6% of Brookfield Corp ON’s portfolio, making the stock its 24th largest position. Brookfield Corp ON owned 0.66% of FirstEnergy worth $151,844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GW&K Investment Management LLC boosted its holdings in FirstEnergy by 159.2% in the fourth quarter. GW&K Investment Management LLC now owns 635 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 390 shares during the last quarter. Clear Street Markets LLC lifted its holdings in FirstEnergy by 549.0% during the 4th quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after buying an additional 549 shares during the last quarter. Certified Advisory Corp bought a new position in FirstEnergy during the 1st quarter worth approximately $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in FirstEnergy during the 1st quarter worth approximately $30,000. Finally, MUFG Americas Holdings Corp bought a new position in FirstEnergy during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FE shares. Royal Bank of Canada reduced their target price on FirstEnergy from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Wednesday, September 6th. UBS Group cut FirstEnergy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $45.00 to $40.00 in a research report on Monday, August 7th. Barclays started coverage on FirstEnergy in a research report on Wednesday, August 23rd. They set an “equal weight” rating and a $37.00 price target on the stock. Morgan Stanley lowered their target price on FirstEnergy from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Finally, StockNews.com cut FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.40.

FirstEnergy Stock Down 0.1 %

Shares of FE stock opened at $35.58 on Tuesday. The stock has a market cap of $20.40 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 2.18 and a beta of 0.45. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.49 and a current ratio of 0.60. The business’s fifty day moving average is $37.52 and its 200-day moving average is $38.64. FirstEnergy Corp. has a 1 year low of $34.69 and a 1 year high of $43.31.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.89 billion. FirstEnergy had a return on equity of 12.41% and a net margin of 3.55%. Equities analysts expect that FirstEnergy Corp. will post 2.53 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were given a $0.39 dividend. The ex-dividend date was Friday, August 4th. This represents a $1.56 annualized dividend and a dividend yield of 4.38%. FirstEnergy’s dividend payout ratio (DPR) is presently 197.47%.

About FirstEnergy

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.