FirstEnergy Corp. (NYSE:FE) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,305,644 shares of the utilities provider's stock after acquiring an additional 85,514 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of FirstEnergy worth $51,939,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new position in FirstEnergy in the third quarter valued at $26,000. True Wealth Design LLC increased its stake in FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 640 shares during the period. Cedar Mountain Advisors LLC acquired a new position in FirstEnergy in the fourth quarter valued at $34,000. Quarry LP increased its stake in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 320 shares during the period. Finally, Luken Investment Analytics LLC acquired a new position in FirstEnergy in the fourth quarter valued at $40,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on FE shares. Morgan Stanley dropped their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Wolfe Research downgraded shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Seaport Res Ptn downgraded shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Scotiabank raised shares of FirstEnergy from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $45.00 to $50.00 in a report on Thursday, December 12th. 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 company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.27.

FirstEnergy Price Performance

FE stock traded down $0.22 during trading on Friday, reaching $40.04. 3,046,318 shares of the company were exchanged, compared to its average volume of 3,593,264. FirstEnergy Corp. has a 52-week low of $36.01 and a 52-week high of $44.97. The company has a market cap of $23.08 billion, a P/E ratio of 25.83, a PEG ratio of 2.01 and a beta of 0.52. 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's 50 day moving average price is $39.85 and its 200 day moving average price is $41.82.

FirstEnergy Dividend Announcement

The firm 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 $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, February 7th. FirstEnergy's dividend payout ratio (DPR) is presently 109.68%.

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.