State of Alaska Department of Revenue Sells 40,725 Shares of FirstEnergy Corp. (NYSE:FE)

State of Alaska Department of Revenue decreased its holdings in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 41.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,494 shares of the utilities provider's stock after selling 40,725 shares during the period. State of Alaska Department of Revenue's holdings in FirstEnergy were worth $2,326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brookstone Capital Management raised its position in shares of FirstEnergy by 6.8% in the 3rd quarter. Brookstone Capital Management now owns 7,710 shares of the utilities provider's stock worth $342,000 after acquiring an additional 488 shares in the last quarter. CWM LLC increased its position in FirstEnergy by 2.8% during the 3rd quarter. CWM LLC now owns 30,544 shares of the utilities provider's stock valued at $1,355,000 after buying an additional 843 shares in the last quarter. UMB Bank n.a. increased its position in FirstEnergy by 48.4% during the 3rd quarter. UMB Bank n.a. now owns 997 shares of the utilities provider's stock valued at $44,000 after buying an additional 325 shares in the last quarter. Exchange Traded Concepts LLC increased its position in FirstEnergy by 3,815.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 23,648 shares of the utilities provider's stock valued at $1,049,000 after buying an additional 23,044 shares in the last quarter. Finally, Creative Planning increased its position in FirstEnergy by 5.0% during the 3rd quarter. Creative Planning now owns 38,301 shares of the utilities provider's stock valued at $1,699,000 after buying an additional 1,813 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FE shares. 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 report on Friday, November 22nd. Wolfe Research downgraded FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on FirstEnergy from $45.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Scotiabank upgraded FirstEnergy from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, Seaport Res Ptn downgraded FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, FirstEnergy presently has a consensus rating of "Hold" and an average price target of $46.27.

FirstEnergy Stock Performance

Shares of FE stock traded down $0.22 on Friday, reaching $40.04. The stock had a trading volume of 3,046,318 shares, compared to its average volume of 3,593,264. FirstEnergy Corp. has a 1 year low of $36.01 and a 1 year high of $44.97. The company has a 50 day simple moving average of $39.85 and a 200 day simple moving average of $41.82. The stock has a market cap of $23.08 billion, a P/E ratio of 25.83, a price-to-earnings-growth 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.

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 issued a $0.425 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.25%. FirstEnergy's dividend payout ratio is currently 109.68%.

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.