The Manufacturers Life Insurance Company has reduced its stake in FirstEnergy Corp. (NYSE:FE)

The Manufacturers Life Insurance Company reduced its stake in shares of FirstEnergy Corp. (NYSE:FEGet the Badge) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The conglomerate owned 1,356,359 shares of the conglomerate’s stock after selling 57,690 shares during the quarter. The Manufacturers Life Insurance Company owned 0.24% of FirstEnergy worth $50,185,000 at the end of the most recent quarter.

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Several other investment institutions and hedge funds have also recently made changes to their positions in the stock. Navalign LLC raised its position in FirstEnergy by 9.4% in the third quarter. Navalign LLC now owns 16,377 shares of the utilities provider’s stock worth $606,000 after purchasing an additional 1,413 shares during the period. Rockefeller Capital Management LP raised its position in FirstEnergy by 9.4% in the third quarter. Rockefeller Capital Management LP now owns 33,419 shares of the specialty care company’s stock worth $1,236,000 after purchasing an additional 2,883 shares during the period. Daiwa Securities Group Inc. raised its position in FirstEnergy by 2.4% in the third quarter. Now owned by Daiwa Securities Group Inc. now owns 36,080 shares of the utilities provider’s stock valued at $1,335,000 after purchasing an additional 858 shares during the period. DekaBank Deutsche Girozentrale increased its position in FirstEnergy by 9.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 99,402 shares of the utilities provider’s stock worth $3,656,000 or after buying an additional 8,588 shares during the period. Finally, Kestra Advisory Services LLC raised its position in FirstEnergy by 20.7% in the third quarter. Kestra Advisory Services LLC now owns 19,892 shares of the utilities provider’s stock worth $736,000 after buying an additional 3,406 shares during the period. Hedge funds and other institutional investors own 81.80% of the company’s stock.

FirstEnergy Stock Up 0.7%

Share of FE shares opened at $42.20 on Friday. FirstEnergy Corp. it has a 12 month low of $35.32 and a 12 month high of $48.85. The stock has a market cap of $24.13 billion, a P/E ratio of 19.27, a P/E/G ratio of 2.64 and a beta of 0.45. The company has a current ratio of 0.66, a gearing ratio of 0.56 and a debt-to-equity ratio of 1.86. The company has a 50-day moving average of $41.22 and a two-hundred-day moving average of $39.67.

FirstEnergy (NYSE:FEGet the Badge) last announced its earnings data on Tuesday, October 25th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.14 billion. FirstEnergy has a yield of 10.35% and 13.76%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. On average, research analysts expect FirstEnergy Corp. to post. 2.43 earnings per share for this year.

FirstEnergy Press Release

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 7th will be issued a dividend of $0.39 per share. shares. The distribution date of this dividend is Monday, February 6th. This provides a $1.56 annual dividend and yields 3.70%. FirstEnergy’s dividend yield is 71.23%.

Wall Street Analyst Weighs In

FE has been the subject of many detailed reports. Morgan Stanley increased their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. StockNews.com assumed coverage on shares of FirstEnergy in a research note on Wednesday, October 12th. They set the “stop” target on the stock. KeyCorp cut their price target on shares of FirstEnergy from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. Guggenheim cut their price target on shares of FirstEnergy from $43.00 to $34.00 in a research note on Monday, October 24th. Finally, Wells Fargo & Company boosted their target price on shares of FirstEnergy to $45.00 in a research note on Wednesday, December 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. in stock. Based on data from MarketBeat, the stock has a rating of “Hold” and a target price of $43.25.

FirstEnergy Company Profile

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FirstEnergy Corp. is engaged in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates in the following business segments: Distribution Management, Media Management, and Corporate. The regulated sector distributes electricity through FirstEnergy utility companies, serving a variety of customers.

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Corporate Governance Quarterly for FirstEnergy (NYSE:FE)

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