Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,379 Shares of FirstEnergy Corp. (NYSE:FE)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,613 shares of the utilities provider’s stock after buying an additional 1,379 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in FirstEnergy were worth $2,252,000 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. Brookstone Capital Management boosted its stake 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 valued at $342,000 after purchasing an additional 488 shares in the last quarter. CWM LLC lifted its stake in FirstEnergy by 2.8% in the 3rd quarter. CWM LLC now owns 30,544 shares of the utilities provider’s stock valued at $1,355,000 after purchasing an additional 843 shares during the last quarter. UMB Bank n.a. lifted its stake in FirstEnergy by 48.4% in the 3rd quarter. UMB Bank n.a. now owns 997 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 325 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in FirstEnergy by 3,815.2% in the third 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 grew its stake in shares of FirstEnergy by 5.0% during the third quarter. Creative Planning now owns 38,301 shares of the utilities provider’s stock worth $1,699,000 after buying an additional 1,813 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

FE has been the subject of a number of research reports. Jefferies Financial Group began coverage on FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. 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 report on Friday, October 18th. KeyCorp reduced their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Finally, Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, FirstEnergy has an average rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Down 0.9 %

FE opened at $39.82 on Tuesday. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97. The company has a fifty day moving average of $39.95 and a 200-day moving average of $41.85. The stock has a market cap of $22.95 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.01 and a beta of 0.52. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

FirstEnergy Company 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.