FirstEnergy Corp. (NYSE:FE) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in FirstEnergy Corp. (NYSE:FEFree Report) by 112.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 169,546 shares of the utilities provider’s stock after acquiring an additional 89,758 shares during the period. Assenagon Asset Management S.A.’s holdings in FirstEnergy were worth $6,216,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of FirstEnergy by 7.0% in the first quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock valued at $3,128,322,000 after buying an additional 4,443,050 shares during the last quarter. FMR LLC grew its holdings in FirstEnergy by 31.1% in the third quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock valued at $540,996,000 after purchasing an additional 3,756,228 shares during the period. Invesco Ltd. grew its holdings in FirstEnergy by 3.1% in the third quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock valued at $463,950,000 after purchasing an additional 407,350 shares during the period. Geode Capital Management LLC grew its holdings in FirstEnergy by 2.7% in the first quarter. Geode Capital Management LLC now owns 11,526,479 shares of the utilities provider’s stock valued at $460,739,000 after purchasing an additional 300,442 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in FirstEnergy by 3.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,575,866 shares of the utilities provider’s stock valued at $293,123,000 after purchasing an additional 306,503 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FE. StockNews.com downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. KeyCorp boosted their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus price target of $39.63.

View Our Latest Stock Report on FirstEnergy

FirstEnergy Price Performance

FE opened at $38.62 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 2.10. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.99. The company has a 50 day moving average of $37.31 and a two-hundred day moving average of $36.74. The company has a market cap of $22.18 billion, a P/E ratio of 21.34 and a beta of 0.48.

FirstEnergy (NYSE:FEGet Free Report) last released its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. FirstEnergy’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts expect that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.425 dividend. The ex-dividend date is Monday, May 6th. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a dividend yield of 4.40%. FirstEnergy’s dividend payout ratio is 90.61%.

FirstEnergy Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FEFree Report).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.