Asset Management One Co. Ltd. Increases Stock Position in FirstEnergy Corp. (NYSE:FE)

Asset Management One Co. Ltd. grew its stake in shares of FirstEnergy Corp. (NYSE:FE) by 34.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 391,911 shares of the utilities provider’s stock after buying an additional 99,527 shares during the period. Asset Management One Co. Ltd.’s holdings in FirstEnergy were worth $15,547,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FE. Assenagon Asset Management S.A. grew its stake in shares of FirstEnergy by 1,417.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock valued at $32,965,000 after buying an additional 694,313 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after buying an additional 457,231 shares during the period. Wedge Capital Management L L P NC purchased a new stake in FirstEnergy during the 4th quarter worth $12,198,000. International Assets Investment Management LLC increased its holdings in FirstEnergy by 4,445.0% in the 3rd quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after purchasing an additional 214,606 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in FirstEnergy by 7.9% in 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 valued at $104,057,000 after purchasing an additional 171,955 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

Shares of FE stock opened at $40.04 on Friday. 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 one year low of $36.01 and a one year high of $44.97. The company’s 50-day simple moving average is $39.83 and its 200-day simple moving average is $41.81. The stock has a market capitalization of $23.08 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.01 and a beta of 0.52.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 4.25%. FirstEnergy’s payout ratio is 109.68%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report 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. According to data from MarketBeat, FirstEnergy has a consensus rating of “Hold” and a consensus target price of $46.27.

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.