FirstEnergy Corp. (NYSE:FE) Shares Acquired by Greenleaf Trust

Greenleaf Trust boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 14.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,151 shares of the utilities provider’s stock after buying an additional 1,445 shares during the quarter. Greenleaf Trust’s holdings in FirstEnergy were worth $444,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC bought a new stake in shares of FirstEnergy during the 4th quarter worth $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of FirstEnergy by 7.9% in the 3rd 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 valued at $104,057,000 after purchasing an additional 171,955 shares during the period. DRW Securities LLC purchased a new position in FirstEnergy in the 3rd quarter worth about $1,154,000. Whalen Wealth Management Inc. acquired a new stake in FirstEnergy during the 4th quarter worth about $664,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in FirstEnergy by 16.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock valued at $8,267,000 after buying an additional 26,874 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FE. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective for the company. Finally, Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.27.

FirstEnergy Trading Up 0.0 %

NYSE:FE opened at $40.01 on Wednesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The company has a market capitalization of $23.06 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.99 and a beta of 0.52. The stock’s 50 day moving average price is $40.14 and its 200 day moving average price is $41.85. FirstEnergy Corp. has a 52 week low of $35.41 and a 52 week high of $44.97.

FirstEnergy Dividend Announcement

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 issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.25%. FirstEnergy’s dividend payout ratio is currently 109.68%.

About FirstEnergy

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.