FirstEnergy Corporation $FE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of FirstEnergy Corporation (NYSE:FE) by 3.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,108,986 shares of the utilities provider’s stock after selling 38,053 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in FirstEnergy were worth $48,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in FirstEnergy by 7.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider’s stock valued at $508,158,000 after buying an additional 694,449 shares in the last quarter. Bank of America Corp DE increased its holdings in FirstEnergy by 11.9% in the 1st quarter. Bank of America Corp DE now owns 5,396,317 shares of the utilities provider’s stock valued at $273,377,000 after purchasing an additional 573,731 shares during the last quarter. Electron Capital Partners LLC raised its position in FirstEnergy by 103.2% in the first quarter. Electron Capital Partners LLC now owns 2,991,914 shares of the utilities provider’s stock valued at $151,570,000 after purchasing an additional 1,519,737 shares during the period. Dimensional Fund Advisors LP raised its position in FirstEnergy by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,627,745 shares of the utilities provider’s stock valued at $133,116,000 after purchasing an additional 35,259 shares during the period. Finally, BROOKFIELD Corp ON boosted its position in shares of FirstEnergy by 6.4% during the first quarter. BROOKFIELD Corp ON now owns 2,621,338 shares of the utilities provider’s stock worth $132,797,000 after buying an additional 156,920 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of NYSE FE opened at $47.16 on Thursday. FirstEnergy Corporation has a 12 month low of $42.67 and a 12 month high of $52.34. The company has a market cap of $27.30 billion, a P/E ratio of 22.67, a P/E/G ratio of 2.77 and a beta of 0.39. The business’s 50 day moving average is $45.47 and its two-hundred day moving average is $47.52. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 1.79.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.24 billion. FirstEnergy had a return on equity of 11.07% and a net margin of 7.40%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. On average, equities analysts expect that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be paid a $0.4650 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, November 6th. FirstEnergy’s payout ratio is currently 89.42%.

Analysts Set New Price Targets

A number of research firms have weighed in on FE. Wall Street Zen raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. New Street Research set a $47.00 price objective on shares of FirstEnergy in a research report on Tuesday, October 13th. Weiss Ratings upgraded FirstEnergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Jefferies Financial Group reissued a “hold” rating on shares of FirstEnergy in a research report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of FirstEnergy from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.77.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is an electric utility company focused on the transmission and distribution of electricity. Through its regulated utility subsidiaries, the company delivers power to residential, commercial and industrial customers and maintains the poles, lines, substations and other infrastructure that support electric service.

FirstEnergy’s distribution operations serve customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. Its utility companies include Ohio Edison, The Illuminating Company, Toledo Edison, Jersey Central Power & Light, Met-Ed, Penelec, Penn Power, West Penn Power, Mon Power and The Potomac Edison Company.