Allspring Global Investments Holdings LLC Boosts Stock Position in FirstEnergy Corp. (NYSE:FE)

Allspring Global Investments Holdings LLC increased its position in FirstEnergy Corp. (NYSE:FE - Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,318,905 shares of the utilities provider's stock after acquiring an additional 220,433 shares during the period. FirstEnergy makes up about 0.6% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 26th biggest holding. Allspring Global Investments Holdings LLC owned about 1.62% of FirstEnergy worth $371,911,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Essex Financial Services Inc. raised its stake in shares of FirstEnergy by 6.2% during the 4th quarter. Essex Financial Services Inc. now owns 5,819 shares of the utilities provider's stock valued at $231,000 after buying an additional 340 shares during the last quarter. Savant Capital LLC raised its stake in shares of FirstEnergy by 5.7% during the 4th quarter. Savant Capital LLC now owns 14,777 shares of the utilities provider's stock valued at $588,000 after buying an additional 792 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of FirstEnergy by 12.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 20,562 shares of the utilities provider's stock valued at $818,000 after buying an additional 2,195 shares during the last quarter. Entropy Technologies LP increased its stake in shares of FirstEnergy by 217.0% in the 4th quarter. Entropy Technologies LP now owns 54,457 shares of the utilities provider's stock valued at $2,166,000 after purchasing an additional 37,277 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of FirstEnergy by 11.3% in the 4th quarter. Empowered Funds LLC now owns 10,481 shares of the utilities provider's stock valued at $417,000 after purchasing an additional 1,060 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Price Performance

Shares of FE stock traded down $0.22 during trading hours on Friday, reaching $40.04. The company had a trading volume of 3,046,318 shares, compared to its average volume of 3,835,380. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The stock has a fifty day moving average of $39.83 and a 200-day moving average of $41.81. The company has a market capitalization of $23.08 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a 12-month low of $36.01 and a 12-month high of $44.97.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.25%. FirstEnergy's dividend payout ratio (DPR) is presently 109.68%.

Analysts Set New Price Targets

Several brokerages recently weighed in on FE. KeyCorp cut their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Wolfe Research lowered FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Seaport Res Ptn lowered FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. Scotiabank upgraded FirstEnergy from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted their price target on FirstEnergy from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $46.27.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.