FirstEnergy Corp. (NYSE:FE) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in FirstEnergy Corp. (NYSE:FE) by 41.0% during the fourth quarter, Holdings Channel reports. The fund owned 58,494 shares of the utilities provider’s stock after selling 40,725 shares during the quarter. State of Alaska Department of Revenue’s holdings in FirstEnergy were worth $2,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new stake in shares of FirstEnergy in the fourth quarter worth $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of FirstEnergy by 7.9% in the third 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 during the period. DRW Securities LLC acquired a new stake in shares of FirstEnergy in the third quarter worth $1,154,000. Whalen Wealth Management Inc. acquired a new stake in shares of FirstEnergy in the fourth quarter worth $664,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of FirstEnergy by 16.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock worth $8,267,000 after acquiring an additional 26,874 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

FE opened at $39.82 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The company has a market cap of $22.95 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a 52-week low of $36.01 and a 52-week high of $44.97. The firm’s fifty day simple moving average is $39.95 and its two-hundred day simple moving average is $41.85.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio is currently 109.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FE shares. Jefferies Financial Group started coverage on shares of FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective on the stock. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley dropped 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. Wolfe Research lowered shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp dropped 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.27.

FirstEnergy 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.