FirstEnergy Corp. (NYSE:FE) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in FirstEnergy Corp. (NYSE:FE - Free Report) by 46.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,121 shares of the utilities provider's stock after acquiring an additional 33,111 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in FirstEnergy were worth $4,179,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Schroder Investment Management Group increased its position in FirstEnergy by 56.0% during the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock worth $1,933,000 after purchasing an additional 17,506 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in FirstEnergy by 41.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider's stock valued at $1,902,000 after purchasing an additional 14,129 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of FirstEnergy in the 4th quarter valued at approximately $664,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of FirstEnergy by 17.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider's stock worth $211,000 after buying an additional 797 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of FirstEnergy by 19.0% during the 4th quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock worth $2,483,000 after buying an additional 9,979 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jon Taylor K. sold 12,000 shares of FirstEnergy stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the transaction, the chief financial officer now owns 99,919 shares in the company, valued at $4,299,514.57. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

FE has been the subject of several analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $48.00 price objective (up from $47.00) on shares of FirstEnergy in a research report on Thursday. Wolfe Research cut FirstEnergy from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 23rd. UBS Group raised their price objective on FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Wells Fargo & Company upped their target price on shares of FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Finally, Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Stock Up 0.3%

Shares of NYSE FE traded up $0.12 during midday trading on Friday, hitting $42.11. The company's stock had a trading volume of 4,250,831 shares, compared to its average volume of 3,682,566. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The firm has a market capitalization of $24.30 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.42. The business's fifty day simple moving average is $41.14 and its two-hundred day simple moving average is $40.63. FirstEnergy Corp. has a 1 year low of $37.58 and a 1 year high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. During the same quarter last year, the company posted $0.55 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.445 per share. This is an increase from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. This represents a $1.78 annualized dividend and a yield of 4.23%. FirstEnergy's dividend payout ratio is 94.68%.

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.