Sumitomo Mitsui Trust Group Inc. Has $59.64 Million Stake in FirstEnergy Corporation $FE

Sumitomo Mitsui Trust Group Inc. raised its stake in FirstEnergy Corporation (NYSE:FE) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,301,665 shares of the utilities provider’s stock after acquiring an additional 15,418 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of FirstEnergy worth $59,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in FirstEnergy in the 4th quarter valued at approximately $256,000. Integrated Wealth Concepts LLC acquired a new position in shares of FirstEnergy during the first quarter worth $289,000. Empowered Funds LLC lifted its stake in shares of FirstEnergy by 7.0% in the 1st quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider’s stock valued at $453,000 after acquiring an additional 732 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of FirstEnergy by 40.7% during the 1st quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider’s stock valued at $1,752,000 after acquiring an additional 12,531 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in FirstEnergy by 6.8% in the 1st quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider’s stock worth $856,000 after purchasing an additional 1,340 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FE has been the topic of a number of recent research reports. Scotiabank lifted their price target on FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, October 24th. Jefferies Financial Group lifted their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. UBS Group reduced their target price on shares of FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstEnergy in a research note on Monday, December 29th. Finally, Citigroup began coverage on shares of FirstEnergy in a report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, FirstEnergy has an average rating of “Moderate Buy” and a consensus price target of $48.75.

FirstEnergy Stock Up 0.8%

FirstEnergy stock opened at $46.54 on Friday. The firm has a market cap of $26.89 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.64 and a beta of 0.64. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75. The firm has a 50 day moving average price of $45.44 and a two-hundred day moving average price of $44.33.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.94 billion. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. FirstEnergy’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. Equities analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be given a $0.445 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. FirstEnergy’s dividend payout ratio (DPR) is 77.73%.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.