Allspring Global Investments Holdings LLC Has $371.91 Million Stake in FirstEnergy Corp. (NYSE:FE)

Allspring Global Investments Holdings LLC grew its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,318,905 shares of the utilities provider’s stock after purchasing an additional 220,433 shares during the period. FirstEnergy comprises 0.6% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 26th largest holding. Allspring Global Investments Holdings LLC owned 1.62% of FirstEnergy worth $371,911,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FE shares. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. KeyCorp dropped their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Morgan Stanley cut their target price 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. Finally, Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Price Performance

Shares of NYSE FE opened at $40.45 on Wednesday. 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 capitalization of $23.31 billion, a PE ratio of 26.09, a P/E/G ratio of 2.01 and a beta of 0.52. The firm has a fifty day simple moving average of $39.91 and a 200 day simple moving average of $41.85. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

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.