Today: Today, Mason Street Advisors LLC Invests $1,997,000 in FirstEnergy Corp. (FE)

Today, Mason Street Advisors LLC Invests $1,997,000 in FirstEnergy Corp. (FE)

Mason Street Advisors LLC bought a new stake in FirstEnergy Corp. (NYSE:FE) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 57,206 shares of the company’s stock, valued at approximately $1,997,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its stake in FirstEnergy Corp. by 138.4% in the second quarter. AQR Capital Management LLC now owns 9,383,869 shares of the company’s stock valued at $327,591,000 after buying an additional 5,447,191 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in shares of FirstEnergy Corp. by 216.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 3,365,286 shares of the company’s stock worth $117,482,000 after buying an additional 2,300,984 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of FirstEnergy Corp. by 96.3% in the second quarter. Franklin Resources Inc. now owns 4,485,500 shares of the company’s stock worth $156,589,000 after buying an additional 2,200,000 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of FirstEnergy Corp. during the second quarter worth approximately $42,845,000. Finally, Vanguard Group Inc. increased its stake in shares of FirstEnergy Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 31,770,623 shares of the company’s stock worth $1,109,112,000 after buying an additional 1,160,545 shares during the last quarter. Hedge funds and other institutional investors own 74.53% of the company’s stock.

FirstEnergy Corp. (NYSE:FE) traded up 2.06% during midday trading on Friday, hitting $32.14. The stock had a trading volume of 2,063,216 shares. The firm’s market cap is $13.68 billion. The stock has a 50-day moving average price of $32.64 and a 200 day moving average price of $33.41. FirstEnergy Corp. has a 12-month low of $30.29 and a 12-month high of $36.60.

FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.14. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. During the same period last year, the firm posted $0.98 EPS. On average, equities analysts anticipate that FirstEnergy Corp. will post $2.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.48%. FirstEnergy Corp.’s payout ratio is -100.70%.

FE has been the topic of a number of recent research reports. Barclays PLC set a $36.00 target price on FirstEnergy Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Deutsche Bank AG upgraded FirstEnergy Corp. from a “hold” rating to a “buy” rating and lowered their target price for the stock from $38.00 to $37.00 in a research note on Tuesday, October 25th. Royal Bank Of Canada lowered their target price on FirstEnergy Corp. from $38.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 13th. Vetr downgraded FirstEnergy Corp. from a “strong-buy” rating to a “buy” rating and set a $35.82 target price on the stock. in a research note on Tuesday, November 15th. Finally, Jefferies Group restated a “hold” rating and issued a $34.50 target price (up previously from $34.00) on shares of FirstEnergy Corp. in a research note on Tuesday, October 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. FirstEnergy Corp. currently has a consensus rating of “Hold” and a consensus price target of $36.19.

FirstEnergy Corp. Company Profile

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 approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.

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