1,307,552 Shares in FirstEnergy Corporation $FE Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in FirstEnergy Corporation (NYSE:FE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,307,552 shares of the utilities provider’s stock, valued at approximately $62,161,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Wyoming bought a new stake in shares of FirstEnergy during the second quarter valued at about $25,000. Axiom Investment Management LLC bought a new position in shares of FirstEnergy in the first quarter valued at approximately $26,000. DV Equities LLC purchased a new position in FirstEnergy during the fourth quarter valued at approximately $33,000. Quest 10 Wealth Builders Inc. grew its stake in FirstEnergy by 507.9% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 640 shares in the last quarter. Finally, Summit Securities Group LLC increased its holdings in FirstEnergy by 148.0% during the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 2,376 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Down 0.0%

Shares of NYSE:FE opened at $47.24 on Thursday. The stock has a market capitalization of $27.34 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 2.26 and a beta of 0.46. The stock’s 50-day moving average price is $47.93 and its 200-day moving average price is $48.32. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. FirstEnergy Corporation has a 12-month low of $42.87 and a 12-month high of $52.34.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.51 billion. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities analysts anticipate that FirstEnergy Corporation will post 2.74 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.465 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 3.9%. FirstEnergy’s payout ratio is presently 98.94%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FE shares. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, July 22nd. UBS Group boosted their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings cut shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Barclays lowered their price objective on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Wolfe Research lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.83.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.