Mirae Asset Global Investments Co. Ltd. Acquires 14,129 Shares of FirstEnergy Corp. (NYSE:FE)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 41.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,956 shares of the utilities provider's stock after acquiring an additional 14,129 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in FirstEnergy were worth $1,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FE. Livelsberger Financial Advisory purchased a new position in shares of FirstEnergy in the 3rd quarter worth about $26,000. True Wealth Design LLC boosted its holdings in FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 640 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in FirstEnergy during the 4th quarter valued at about $34,000. Quarry LP boosted its holdings in FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 320 shares during the period. Finally, Luken Investment Analytics LLC purchased a new stake in FirstEnergy during the 4th quarter valued at about $40,000. 89.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FE. Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Scotiabank raised FirstEnergy from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their target price on FirstEnergy from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. KeyCorp dropped their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Finally, Wolfe Research downgraded FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. One 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 MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $46.27.

FirstEnergy Stock Performance

NYSE FE traded down $0.22 on Friday, hitting $40.04. 3,046,318 shares of the company traded hands, compared to its average volume of 3,593,264. The company has a market capitalization of $23.08 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.01 and a beta of 0.52. 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 business's 50 day moving average price is $39.85 and its 200-day moving average price is $41.82. FirstEnergy Corp. has a 52-week low of $36.01 and a 52-week high of $44.97.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.25%. FirstEnergy's dividend payout ratio (DPR) is presently 109.68%.

About FirstEnergy

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.