FirstEnergy Corp. (FE) : Premier Asset Managment scooped up 11,075 additional shares in FirstEnergy Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 25,730 shares of FirstEnergy Corp. which is valued at $812,039.FirstEnergy Corp. makes up approximately 0.21% of Premier Asset Managment’s portfolio.
Other Hedge Funds, Including , British Columbia Investment Management Corp reduced its stake in FE by selling 30,198 shares or 15.58% in the most recent quarter. The Hedge Fund company now holds 163,595 shares of FE which is valued at $5,107,436. FirstEnergy Corp. makes up approx 0.05% of British Columbia Investment Management Corp’s portfolio.Cutler Group Lp reduced its stake in FE by selling 41,282 shares or 77.8% in the most recent quarter. The Hedge Fund company now holds 11,779 shares of FE which is valued at $373,748. FirstEnergy Corp. makes up approx 0.02% of Cutler Group Lp’s portfolio.Pure Financial Advisors boosted its stake in FE in the latest quarter, The investment management firm added 146 additional shares and now holds a total of 13,442 shares of FirstEnergy Corp. which is valued at $421,003. FirstEnergy Corp. makes up approx 0.14% of Pure Financial Advisors’s portfolio.First American Trust Fsb reduced its stake in FE by selling 1,527 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 84,014 shares of FE which is valued at $2,637,199. FirstEnergy Corp. makes up approx 0.83% of First American Trust Fsb’s portfolio.
FirstEnergy Corp. closed down -0.51 points or -1.61% at $31.22 with 22,93,543 shares getting traded on Tuesday. Post opening the session at $31.73, the shares hit an intraday low of $31.15 and an intraday high of $31.77 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, FirstEnergy Corp. reported $0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.54.Analysts expectations of $ 3585.29.During the same quarter in the previous year, the company posted $0.53 EPS.
Investors should note that on Sep 20, 2016, FirstEnergy Corp. announced a cash dividend of $0.3600. The company’s management has announced Nov 3, 2016 as the ex-dividend date and fixed the record date on Nov 7, 2016. The payable date has been fixed on Dec 1, 2016.
Many Wall Street Analysts have commented on FirstEnergy Corp.. Shares were Reiterated by RBC Capital Mkts on Oct 13, 2016 to “Sector Perform” and Lowered the Price Target to $ 36 from a previous price target of $38 .FirstEnergy Corp. was Upgraded by Morgan Stanley to ” Overweight” on Aug 8, 2016. FirstEnergy Corp. was Downgraded by Goldman to ” Sell” on Jul 26, 2016.
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its 10 utility operating companies serving customers within 65000 square miles of Ohio Pennsylvania West Virginia Maryland New Jersey and New York. The Regulated Transmission segment transmits electricity through transmission facilities. The CES segment supplies electricity to end-use customers through retail and wholesale arrangements including retail sales to customers in Ohio Pennsylvania Illinois Michigan New Jersey and Maryland. The Company’s principal subsidiaries include Ohio Edison Company The Cleveland Electric Illuminating Company The Toledo Edison Company Metropolitan Edison Company Pennsylvania Electric Company FirstEnergy Service Company FirstEnergy Solutions Corp. Allegheny Energy Supply Company LLC among others.