Today The USS Investment Management Ltd Invests $5,381,000 in FirstEnergy Corporation (FE)

Today The USS Investment Management Ltd Invests $5,381,000 in FirstEnergy Corporation (FE)

USS Investment Management Ltd acquired a new position in FirstEnergy Corporation (NYSE:FE) during the third quarter, Holdings Channel reports. The fund acquired 162,700 shares of the company’s stock, valued at approximately $5,381,000.

Several other large investors have also recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD increased its stake in FirstEnergy Corporation by 1.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 32,590 shares of the company’s stock worth $1,137,000 after buying an additional 554 shares during the last quarter. Concert Wealth Management Inc. acquired a new stake in FirstEnergy Corporation during the second quarter worth $220,000. Savant Capital LLC increased its stake in FirstEnergy Corporation by 10.4% in the second quarter. Savant Capital LLC now owns 8,105 shares of the company’s stock worth $283,000 after buying an additional 763 shares during the last quarter. Gargoyle Investment Advisor L.L.C. acquired a new stake in FirstEnergy Corporation during the second quarter worth $1,082,000. Finally, ING Groep NV increased its stake in FirstEnergy Corporation by 8.2% in the second quarter. ING Groep NV now owns 35,535 shares of the company’s stock worth $1,240,000 after buying an additional 2,695 shares during the last quarter. Institutional investors own 75.29% of the company’s stock.

Shares of FirstEnergy Corporation (NYSE:FE) opened at 29.58 on Wednesday. FirstEnergy Corporation has a 52 week low of $29.33 and a 52 week high of $36.60. The company has a 50 day moving average of $30.87 and a 200 day moving average of $32.65. The company’s market cap is $12.59 billion.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.87%. The ex-dividend date is Friday, February 3rd. FirstEnergy Corporation’s payout ratio is -100.70%.

Several research analysts have commented on the stock. Vetr upgraded shares of FirstEnergy Corporation from a “buy” rating to a “strong-buy” rating and set a $36.28 price objective for the company in a research report on Tuesday, December 20th. RBC Capital Markets set a $33.00 price objective on shares of FirstEnergy Corporation and gave the company a “hold” rating in a research report on Wednesday, January 4th. Royal Bank Of Canada lowered their price objective on shares of FirstEnergy Corporation from $38.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. Goldman Sachs Group, Inc. (The) upgraded shares of FirstEnergy Corporation from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $29.00 to $34.00 in a research report on Tuesday, January 17th. Finally, Jefferies Group LLC set a $36.00 price objective on shares of FirstEnergy Corporation and gave the company a “hold” rating in a research report on Wednesday, October 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. FirstEnergy Corporation presently has a consensus rating of “Hold” and a consensus price target of $35.45.

In other news, insider Donald R. Schneider sold 6,525 shares of the firm’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $31.36, for a total transaction of $204,624.00. Following the sale, the insider now owns 22,485 shares in the company, valued at approximately $705,129.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Charles D. Lasky sold 5,149 shares of the firm’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $31.36, for a total transaction of $161,472.64. Following the sale, the senior vice president now owns 61,352 shares in the company, valued at approximately $1,923,998.72. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

About FirstEnergy Corporation

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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