FirstEnergy Corp. (FE) : Reinhart Partners added new position in FirstEnergy Corp. during the most recent quarter end. The investment management firm now holds 736,822 shares of FirstEnergy Corp. which is valued at $26,901,371 , the company said in a statement filed on Jul 20, 2016 with the SEC.FirstEnergy Corp. makes up approximately 2.59% of Reinhart Partners’s portfolio.
Other Hedge Funds, Including , Bollard Group boosted its stake in FE in the latest quarter, The investment management firm added 842 additional shares and now holds a total of 88,214 shares of FirstEnergy Corp. which is valued at $3,220,693. FirstEnergy Corp. makes up approx 0.22% of Bollard Group’s portfolio.Nordea Investment Management Ab reduced its stake in FE by selling 11,827 shares or 12.68% in the most recent quarter. The Hedge Fund company now holds 81,474 shares of FE which is valued at $2,931,435. FirstEnergy Corp. makes up approx 0.01% of Nordea Investment Management Ab’s portfolio. Americafirst Capital Management added FE to its portfolio by purchasing 12,072 company shares during the most recent quarter which is valued at $434,351. FirstEnergy Corp. makes up approx 0.30% of Americafirst Capital Management’s portfolio. Puplava Financial Services sold out all of its stake in FE during the most recent quarter. The investment firm sold 6,260 shares of FE which is valued $227,175. Iowa State Bank added FE to its portfolio by purchasing 591 company shares during the most recent quarter which is valued at $21,288. FirstEnergy Corp. makes up approx 0.01% of Iowa State Bank’s portfolio.
FirstEnergy Corp. closed down -0.2 points or -0.55% at $35.98 with 29,75,943 shares getting traded on Wednesday. Post opening the session at $36.18, the shares hit an intraday low of $35.95 and an intraday high of $36.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.. 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. Shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Hold” and Lowered the Price Target to $ 37 from a previous price target of $39 .
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.