Swiss National Bank Trims Position in FirstEnergy Corp. (NYSE:FE)

Swiss National Bank lowered its position in FirstEnergy Corp. (NYSE:FE - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,545,544 shares of the utilities provider's stock after selling 77,000 shares during the quarter. Swiss National Bank owned about 0.27% of FirstEnergy worth $61,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy by 2.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider's stock valued at $371,911,000 after buying an additional 220,433 shares during the period. Franklin Resources Inc. grew its position in FirstEnergy by 1.0% in the third quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider's stock worth $153,081,000 after acquiring an additional 34,151 shares during the period. Charles Schwab Investment Management Inc. increased its stake in FirstEnergy by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,402,070 shares of the utilities provider's stock worth $135,334,000 after acquiring an additional 105,408 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in FirstEnergy by 7.9% in the third 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 valued at $104,057,000 after purchasing an additional 171,955 shares during the period. Finally, Amundi lifted its stake in shares of FirstEnergy by 103.8% in the 4th quarter. Amundi now owns 1,843,964 shares of the utilities provider's stock valued at $73,334,000 after purchasing an additional 939,240 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of FE opened at $39.79 on Friday. The stock has a 50-day simple moving average of $39.91 and a 200-day simple moving average of $41.47. 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 Corp. has a 1 year low of $36.81 and a 1 year high of $44.97. The stock has a market capitalization of $22.94 billion, a PE ratio of 25.67, a PEG ratio of 2.07 and a beta of 0.48.

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FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.03). The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, analysts predict that FirstEnergy Corp. will post 2.66 earnings per share for the current fiscal 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 given a dividend of $0.425 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.27%. FirstEnergy's dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

Several analysts recently issued reports on FE shares. KeyCorp reduced their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company reduced their price target on shares of FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Scotiabank lowered their price objective on shares of FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating for the company in a research report on Friday, February 28th. Wolfe Research lowered FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $45.33.

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.

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