Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 17.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 273,212 shares of the utilities provider’s stock after purchasing an additional 41,197 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned 0.05% of FirstEnergy worth $11,267,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Jacobi Capital Management LLC raised its holdings in shares of FirstEnergy by 192.5% in the third quarter. Jacobi Capital Management LLC now owns 816 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 537 shares during the last quarter. AGF Investments LLC acquired a new position in shares of FirstEnergy in the third quarter worth $34,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of FirstEnergy by 377.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,131 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 894 shares during the last quarter. Widmann Financial Services Inc. acquired a new position in shares of FirstEnergy in the fourth quarter worth $51,000. Finally, Eagle Bay Advisors LLC raised its holdings in shares of FirstEnergy by 128.4% in the third quarter. Eagle Bay Advisors LLC now owns 1,277 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 718 shares during the last quarter. 87.82% of the stock is owned by hedge funds and other institutional investors.
FE stock opened at $46.01 on Friday. The stock has a 50-day moving average price of $44.35 and a two-hundred day moving average price of $41.27. FirstEnergy Corp. has a 12-month low of $35.42 and a 12-month high of $48.85. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 2.56. The company has a market cap of $26.27 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 3.06 and a beta of 0.35.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, May 5th. FirstEnergy’s dividend payout ratio (DPR) is presently 66.38%.
A number of equities analysts have recently weighed in on the company. KeyCorp boosted their price target on FirstEnergy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley lifted their price objective on FirstEnergy from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com began coverage on FirstEnergy in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Bank of America lifted their price objective on FirstEnergy from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, January 18th. Finally, Evercore ISI raised FirstEnergy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $46.00 in a research report on Friday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.38.
FirstEnergy Profile (Get Rating)
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, natural gas, wind, and solar power generating facilities.
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