UniSuper Management Pty Ltd Has $42.65 Million Holdings in FirstEnergy Corp. (NYSE:FE)

UniSuper Management Pty Ltd boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,072,128 shares of the utilities provider’s stock after purchasing an additional 14,150 shares during the quarter. UniSuper Management Pty Ltd’s holdings in FirstEnergy were worth $42,649,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FE. Kestra Investment Management LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. acquired a new position in FirstEnergy in the 4th quarter valued at $26,000. True Wealth Design LLC lifted its position in shares of FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the period. WASHINGTON TRUST Co grew its holdings in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of FirstEnergy in the fourth quarter worth $33,000. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FE shares. KeyCorp cut their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Guggenheim cut their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th. Scotiabank decreased their price objective on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 28th. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley reduced their target price on FirstEnergy from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.00.

FirstEnergy Stock Performance

NYSE:FE opened at $38.44 on Thursday. The stock’s 50-day moving average is $39.90 and its 200-day moving average is $41.20. FirstEnergy Corp. has a 1-year low of $36.81 and a 1-year high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The stock has a market cap of $22.17 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48.

FirstEnergy (NYSE:FE) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. Equities research analysts anticipate that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 4.63%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. FirstEnergy’s dividend payout ratio is presently 104.71%.

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.