FirstEnergy Corp. (NYSE:FE) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,345 shares of the utilities provider’s stock after selling 5,429 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in FirstEnergy were worth $11,073,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC acquired a new position in FirstEnergy during the 4th quarter worth $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in FirstEnergy by 7.9% during 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 worth $104,057,000 after acquiring an additional 171,955 shares in the last quarter. DRW Securities LLC acquired a new position in FirstEnergy during the 3rd quarter worth $1,154,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in FirstEnergy by 41.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock worth $1,902,000 after acquiring an additional 14,129 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new position in FirstEnergy during the 4th quarter worth $664,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FE. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. KeyCorp reduced their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.27.

FirstEnergy Trading Down 0.5 %

Shares of NYSE:FE opened at $40.04 on Monday. The company has a market cap of $23.08 billion, a PE ratio of 25.83, a P/E/G ratio of 2.01 and a beta of 0.52. The company’s 50-day moving average price is $39.83 and its 200 day moving average price is $41.81. FirstEnergy Corp. has a fifty-two week low of $36.01 and a fifty-two week high of $44.97. 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 business also recently announced 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 annualized dividend and a yield of 4.25%. FirstEnergy’s payout ratio is 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.