Mitsubishi UFJ Trust & Banking Corp Has $12.89 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of FirstEnergy Corp. (NYSE:FE) by 22.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 323,951 shares of the utilities provider’s stock after selling 91,520 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of FirstEnergy worth $12,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in shares of FirstEnergy during the fourth quarter worth $26,000. Lee Danner & Bass Inc. bought a new stake in shares of FirstEnergy in the 4th quarter valued at about $26,000. True Wealth Design LLC raised its position in shares of FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the period. WASHINGTON TRUST Co boosted its stake in FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 586 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in FirstEnergy during the fourth quarter valued at approximately $33,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of FE stock opened at $40.05 on Friday. The stock has a market cap of $23.10 billion, a P/E ratio of 25.84, a P/E/G ratio of 2.07 and a beta of 0.48. The company has a fifty day moving average price of $39.89 and a two-hundred day moving average price of $41.15. FirstEnergy Corp. has a one year low of $36.81 and a one year high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. As a group, equities analysts predict 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. Shareholders of record on Wednesday, May 7th will be issued a $0.445 dividend. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. This represents a $1.78 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Wednesday, May 7th. FirstEnergy’s payout ratio is currently 104.71%.

Wall Street Analysts Forecast Growth

FE has been the topic of several analyst reports. Wells Fargo & Company cut their target price on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Scotiabank lowered 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 cut their price objective on FirstEnergy from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, KeyCorp lowered their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, FirstEnergy has an average rating of “Hold” and a consensus target price of $45.00.

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.