FirstEnergy Corp. (FE) : Lesa Sroufe Co reduced its stake in FirstEnergy Corp. by 0.93% during the most recent quarter end. The investment management company now holds a total of 132,860 shares of FirstEnergy Corp. which is valued at $4,850,719 after selling 1,249 shares in FirstEnergy Corp. , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.FirstEnergy Corp. makes up approximately 4.04% of Lesa Sroufe Co’s portfolio.
Other Hedge Funds, Including , Ls Investment Advisors boosted its stake in FE in the latest quarter, The investment management firm added 1,031 additional shares and now holds a total of 20,935 shares of FirstEnergy Corp. which is valued at $764,337. FirstEnergy Corp. makes up approx 0.05% of Ls Investment Advisors’s portfolio.Simplex Trading boosted its stake in FE in the latest quarter, The investment management firm added 2,397 additional shares and now holds a total of 21,763 shares of FirstEnergy Corp. which is valued at $783,033. FirstEnergy Corp. makes up approx 0.10% of Simplex Trading’s portfolio. Premier Asset Managment added FE to its portfolio by purchasing 14,655 company shares during the most recent quarter which is valued at $527,287. FirstEnergy Corp. makes up approx 0.13% of Premier Asset Managment’s portfolio.Dnb Asset Management As reduced its stake in FE by selling 15,639 shares or 48.06% in the most recent quarter. The Hedge Fund company now holds 16,900 shares of FE which is valued at $608,738. FirstEnergy Corp. makes up approx 0.01% of Dnb Asset Management As’s portfolio.
FirstEnergy Corp. opened for trading at $35.23 and hit $35.51 on the upside on Thursday, eventually ending the session at $35.37, with a gain of 0.48% or 0.17 points. The heightened volatility saw the trading volume jump to 37,67,692 shares. Company has a market cap of $15,022 M.
On the company’s financial health, FirstEnergy Corp. reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $3900.00 million for the quarter, compared to analysts expectations of $3885.12 million. During the same quarter in the previous year, the company posted $0.62 EPS.
Investors should note that on Jul 19, 2016, FirstEnergy Corp. announced a cash dividend of $0.3600. The company’s management has announced Aug 3, 2016 as the ex-dividend date and fixed the record date on Aug 5, 2016. The payable date has been fixed on Sep 1, 2016.
Many Wall Street Analysts have commented on FirstEnergy Corp.. FirstEnergy Corp. was Downgraded by Goldman to ” Sell” on Jul 26, 2016. Shares were Downgraded by RBC Capital Mkts on Apr 28, 2016 to ” Sector Perform” and Lowered the Price Target to $ 33 from a previous price target of $38 .FirstEnergy Corp. was Downgraded by Jefferies to ” Hold” on Apr 28, 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.