UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $104.06 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in FirstEnergy Corp. (NYSE:FE) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,346,263 shares of the utilities provider’s stock after buying an additional 171,955 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in FirstEnergy were worth $104,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Public Sector Pension Investment Board grew its holdings in FirstEnergy by 1.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 89,511 shares of the utilities provider’s stock worth $3,970,000 after acquiring an additional 1,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of FirstEnergy by 5.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,571 shares of the utilities provider’s stock worth $4,859,000 after purchasing an additional 5,535 shares during the period. Brooklyn Investment Group bought a new stake in shares of FirstEnergy in the third quarter worth $214,000. Qsemble Capital Management LP increased its holdings in FirstEnergy by 241.6% in the third quarter. Qsemble Capital Management LP now owns 58,015 shares of the utilities provider’s stock valued at $2,573,000 after purchasing an additional 41,033 shares during the period. Finally, DRW Securities LLC bought a new position in FirstEnergy during the 3rd quarter worth $1,154,000. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays upped their price target on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, September 20th. Scotiabank upped their price objective on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of FirstEnergy in a research note on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. Finally, Bank of America boosted their price target on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.91.

FirstEnergy Stock Down 0.2 %

Shares of NYSE FE opened at $42.55 on Monday. The business has a 50-day simple moving average of $42.74 and a two-hundred day simple moving average of $41.54. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97. The company has a market cap of $24.52 billion, a P/E ratio of 27.45, a P/E/G ratio of 2.30 and a beta of 0.51.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. Research analysts anticipate that FirstEnergy Corp. will post 2.67 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, November 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

FirstEnergy Profile

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.