Los Angeles Capital Management LLC Sells 61,950 Shares of FirstEnergy Corp. (NYSE:FE)

Los Angeles Capital Management LLC cut its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 91.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,476 shares of the utilities provider's stock after selling 61,950 shares during the period. Los Angeles Capital Management LLC's holdings in FirstEnergy were worth $218,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FE. Allspring Global Investments Holdings LLC raised its stake in shares of FirstEnergy by 2.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider's stock worth $371,911,000 after purchasing an additional 220,433 shares during the period. Franklin Resources Inc. raised its stake in shares of FirstEnergy by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider's stock worth $153,081,000 after purchasing an additional 34,151 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of FirstEnergy by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider's stock worth $104,057,000 after purchasing an additional 171,955 shares during the period. Swiss National Bank raised its stake in shares of FirstEnergy by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,622,544 shares of the utilities provider's stock worth $71,960,000 after purchasing an additional 5,500 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of FirstEnergy by 7.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,305,644 shares of the utilities provider's stock worth $51,939,000 after purchasing an additional 85,514 shares during the period. 89.41% of the stock is currently owned by institutional investors.

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FirstEnergy Price Performance

FE stock traded up $0.27 during mid-day trading on Friday, reaching $38.54. 8,999,424 shares of the company traded hands, compared to its average volume of 3,013,073. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The company has a market capitalization of $22.22 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 52-week low of $36.81 and a 52-week high of $44.97. The company has a fifty day moving average price of $39.98 and a 200-day moving average price of $41.62.

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

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Friday, February 7th. FirstEnergy's payout ratio is 100.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. KeyCorp lowered their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Wells Fargo & Company lowered their price objective on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Wolfe Research cut FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Finally, Guggenheim lowered their price objective on FirstEnergy from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $45.33.

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.