Asset Management One Co. Ltd. grew its stake in FirstEnergy Corp. (NYSE:FE - Free Report) by 34.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 391,911 shares of the utilities provider's stock after buying an additional 99,527 shares during the quarter. Asset Management One Co. Ltd. owned 0.07% of FirstEnergy worth $15,547,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in FE. Creative Planning boosted its stake in shares of FirstEnergy by 5.0% in the 3rd quarter. Creative Planning now owns 38,301 shares of the utilities provider's stock valued at $1,699,000 after buying an additional 1,813 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of FirstEnergy by 7.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 5,924 shares of the utilities provider's stock valued at $263,000 after buying an additional 417 shares during the period. nVerses Capital LLC purchased a new position in shares of FirstEnergy in the 3rd quarter valued at about $146,000. Good Life Advisors LLC boosted its stake in shares of FirstEnergy by 112.2% in the 3rd quarter. Good Life Advisors LLC now owns 11,238 shares of the utilities provider's stock valued at $498,000 after buying an additional 5,942 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of FirstEnergy by 2.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,234 shares of the utilities provider's stock valued at $2,450,000 after buying an additional 1,133 shares during the period. Hedge funds and other institutional investors own 89.41% of the company's stock.
FirstEnergy Price Performance
FE stock traded up $0.05 on Wednesday, reaching $40.68. 2,220,955 shares of the company's stock were exchanged, compared to its average volume of 3,542,065. The stock has a fifty day moving average of $39.82 and a 200-day moving average of $41.78. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The firm has a market cap of $23.44 billion, a PE ratio of 26.24, a P/E/G ratio of 2.00 and a beta of 0.52. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97.
FirstEnergy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy's payout ratio is currently 109.68%.
Wall Street Analyst Weigh In
FE has been the subject of several recent research reports. Morgan Stanley decreased their price objective on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Seaport Res Ptn cut FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. KeyCorp decreased their target price 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 cut FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Finally, Scotiabank upgraded FirstEnergy from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $45.00 to $50.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $46.27.
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About FirstEnergy
(
Free Report)
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.
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