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

State of Alaska Department of Revenue trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 41.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its stake in 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 grew its stake in FirstEnergy by 2.8% in the 3rd quarter. CWM LLC now owns 30,544 shares of the utilities provider’s stock worth $1,355,000 after acquiring an additional 843 shares in the last quarter. UMB Bank n.a. grew 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 worth $44,000 after acquiring an additional 325 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in FirstEnergy by 3,815.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 23,648 shares of the utilities provider’s stock worth $1,049,000 after acquiring an additional 23,044 shares in the last quarter. Finally, Creative Planning grew its stake in FirstEnergy by 5.0% in the 3rd quarter. Creative Planning now owns 38,301 shares of the utilities provider’s stock worth $1,699,000 after acquiring an additional 1,813 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Down 0.9 %

Shares of FirstEnergy stock opened at $39.82 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy Corp. has a 12-month low of $36.01 and a 12-month high of $44.97. The firm has a market capitalization of $22.95 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.01 and a beta of 0.52. The firm’s 50 day simple moving average is $39.95 and its two-hundred day simple moving average is $41.85.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.27%. FirstEnergy’s payout ratio is 109.68%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FE. Morgan Stanley dropped their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upped their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Jefferies Financial Group started coverage on shares of FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. Finally, Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average 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.