Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Grows Stake in FirstEnergy Corp. (FE)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,323 shares of the utilities provider’s stock after buying an additional 1,409 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in FirstEnergy were worth $5,173,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lake Point Wealth Management acquired a new stake in FirstEnergy in the fourth quarter valued at approximately $25,000. Legacy Advisors LLC acquired a new stake in FirstEnergy in the first quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in FirstEnergy in the fourth quarter valued at approximately $34,000. Kaizen Advisory LLC raised its holdings in FirstEnergy by 23.6% in the fourth quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 254 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in FirstEnergy by 98.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 666 shares in the last quarter. 90.52% of the stock is owned by institutional investors.

FE stock traded up $0.25 during midday trading on Wednesday, reaching $42.64. 4,032,400 shares of the company were exchanged, compared to its average volume of 4,633,759. The company has a current ratio of 0.54, a quick ratio of 0.47 and a debt-to-equity ratio of 2.72. FirstEnergy Corp. has a 1-year low of $32.92 and a 1-year high of $42.88. The stock has a market cap of $22.53 billion, a P/E ratio of 16.46, a PEG ratio of 2.74 and a beta of 0.30.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). FirstEnergy had a return on equity of 21.90% and a net margin of 2.63%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts predict that FirstEnergy Corp. will post 2.59 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.38 per share. The ex-dividend date is Monday, May 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.56%. FirstEnergy’s payout ratio is currently 58.69%.

Several analysts recently weighed in on FE shares. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Tuesday, January 29th. Morgan Stanley raised their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Bank of America raised their target price on shares of FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $46.00 in a report on Wednesday, March 20th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.86.

In other news, EVP Leila L. Vespoli sold 24,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $41.33, for a total transaction of $1,008,452.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

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About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

Further Reading: Buy-Side Analysts

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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