Capital World Investors Increases Stock Position in FirstEnergy Corp. (NYSE:FE)

Capital World Investors boosted its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 0.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,092,086 shares of the utilities provider's stock after buying an additional 27,291 shares during the period. Capital World Investors owned approximately 13.55% of FirstEnergy worth $3,106,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Boston Partners grew its position in FirstEnergy by 73.5% during the fourth quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock worth $656,309,000 after buying an additional 6,991,866 shares in the last quarter. Amundi grew its holdings in shares of FirstEnergy by 103.8% during the fourth quarter. Amundi now owns 1,843,964 shares of the utilities provider's stock worth $73,334,000 after purchasing an additional 939,240 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of FirstEnergy by 118.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,640,808 shares of the utilities provider's stock worth $65,271,000 after purchasing an additional 888,800 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of FirstEnergy in the fourth quarter worth approximately $30,069,000. Finally, Vanguard Group Inc. raised its stake in FirstEnergy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 65,843,901 shares of the utilities provider's stock valued at $2,619,270,000 after purchasing an additional 508,570 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

FirstEnergy Trading Up 2.6 %

FirstEnergy stock opened at $41.87 on Friday. The business has a 50-day simple moving average of $39.99 and a two-hundred day simple moving average of $40.73. FirstEnergy Corp. has a 52-week low of $37.58 and a 52-week high of $44.97. 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 company has a market cap of $24.14 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.07 and a beta of 0.41.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. Analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be paid a $0.445 dividend. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.25%. FirstEnergy's dividend payout ratio is 104.71%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group increased their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Wolfe Research downgraded FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Guggenheim boosted their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Finally, Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.17.

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.

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