Norinchukin Bank The Has $975,000 Stake in FirstEnergy Corp. (NYSE:FE)

Norinchukin Bank The boosted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,499 shares of the utilities provider’s stock after acquiring an additional 2,645 shares during the quarter. Norinchukin Bank The’s holdings in FirstEnergy were worth $975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB lifted its holdings in FirstEnergy by 361.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 24,834 shares of the utilities provider’s stock valued at $1,101,000 after purchasing an additional 19,457 shares during the last quarter. Franklin Resources Inc. grew its position in FirstEnergy by 1.0% during the 3rd 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 last quarter. B. Riley Wealth Advisors Inc. increased its holdings in FirstEnergy by 15.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 33,532 shares of the utilities provider’s stock valued at $1,479,000 after purchasing an additional 4,503 shares in the last quarter. Principal Financial Group Inc. raised its position in FirstEnergy by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 617,768 shares of the utilities provider’s stock valued at $27,398,000 after purchasing an additional 30,769 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in FirstEnergy by 6.2% in the fourth quarter. GAMMA Investing LLC now owns 10,897 shares of the utilities provider’s stock worth $433,000 after purchasing an additional 634 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FE shares. Scotiabank cut their price target on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a report on Friday, February 28th. Morgan Stanley dropped their target price on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. UBS Group increased their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Guggenheim upped their price target on FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, April 7th. Finally, Wells Fargo & Company lowered their price objective on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.17.

FirstEnergy Trading Down 0.6 %

FE opened at $41.78 on Tuesday. 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 twelve month low of $37.58 and a twelve month high of $44.97. The firm’s fifty day moving average is $40.02 and its two-hundred day moving average is $40.68. The firm has a market cap of $24.09 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. Equities research analysts anticipate that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a $0.445 dividend. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, May 7th. FirstEnergy’s payout ratio is currently 104.71%.

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.