CIBC Asset Management Inc Purchases 135,870 Shares of FirstEnergy Corp. (NYSE:FE)

CIBC Asset Management Inc increased its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 177.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 212,358 shares of the utilities provider's stock after acquiring an additional 135,870 shares during the quarter. CIBC Asset Management Inc's holdings in FirstEnergy were worth $8,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balanced Wealth Group LLC grew its stake in shares of FirstEnergy by 0.9% during the 3rd quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider's stock valued at $1,186,000 after acquiring an additional 241 shares during the period. Metis Global Partners LLC lifted its holdings in FirstEnergy by 1.7% in the 3rd quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider's stock worth $750,000 after purchasing an additional 288 shares in the last quarter. Quarry LP raised its holdings in shares of FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider's stock worth $38,000 after acquiring an additional 320 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of FirstEnergy by 6.7% during the 4th quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider's stock worth $205,000 after acquiring an additional 324 shares in the last quarter. Finally, Essex Financial Services Inc. raised its holdings 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 worth $231,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Up 2.3 %

NYSE:FE traded up $0.96 during trading hours on Friday, hitting $42.34. 7,878,474 shares of the stock traded hands, compared to its average volume of 3,703,679. FirstEnergy Corp. has a fifty-two week low of $36.01 and a fifty-two week high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The firm has a market cap of $24.40 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.03 and a beta of 0.52. The firm has a 50 day moving average price of $39.85 and a 200 day moving average price of $41.77.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy's dividend payout ratio (DPR) is 109.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Scotiabank raised FirstEnergy from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. Wolfe Research cut FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. KeyCorp reduced their price objective on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. Morgan Stanley reduced 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. Finally, Seaport Res Ptn lowered FirstEnergy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy has a consensus rating of "Hold" and an average target price of $46.27.

FirstEnergy Company 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.