Mitsubishi UFJ Asset Management Co. Ltd. Buys 19,983 Shares of FirstEnergy Corp. (NYSE:FE)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in FirstEnergy Corp. (NYSE:FE - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 545,511 shares of the utilities provider's stock after purchasing an additional 19,983 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of FirstEnergy worth $20,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Sugarloaf Wealth Management LLC acquired a new stake in shares of FirstEnergy during the fourth quarter worth about $29,000. Blue Trust Inc. raised its position in FirstEnergy by 327.3% in the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 792 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in FirstEnergy in the fourth quarter valued at approximately $40,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of FirstEnergy in the 3rd quarter valued at approximately $45,000. Finally, NBC Securities Inc. purchased a new position in FirstEnergy in the third quarter valued at $45,000. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Stock Performance

FE stock traded down $0.18 during mid-day trading on Friday, reaching $40.04. 2,475,332 shares of the stock traded hands, compared to its average volume of 3,246,666. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $40.65. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $23.04 billion, a PE ratio of 23.12 and a beta of 0.48. The business has a 50-day moving average of $38.46 and a two-hundred day moving average of $37.49.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. As a group, equities analysts predict that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.425 dividend. The ex-dividend date is Monday, May 6th. This is a positive change from FirstEnergy's previous quarterly dividend of $0.41. This represents a $1.70 dividend on an annualized basis and a yield of 4.25%. FirstEnergy's payout ratio is 97.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FE. StockNews.com raised shares of FirstEnergy from a "sell" rating to a "hold" rating in a report on Monday, April 29th. Bank of America lifted their price target on FirstEnergy from $30.00 to $35.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group began coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They set a "buy" rating and a $45.00 price objective on the stock. Finally, Scotiabank lowered their price objective on FirstEnergy from $41.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.80.

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.