Allspring Global Investments Holdings LLC Buys 220,433 Shares of FirstEnergy Corp. (NYSE:FE)

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

Other large investors also recently made changes to their positions in the company. Wedge Capital Management L L P NC acquired a new position in FirstEnergy during the 4th quarter worth approximately $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of FirstEnergy by 7.9% during 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 worth $104,057,000 after purchasing an additional 171,955 shares during the period. DRW Securities LLC bought a new position in shares of FirstEnergy in the 3rd quarter worth $1,154,000. Whalen Wealth Management Inc. acquired a new stake in FirstEnergy in the 4th quarter valued at $664,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in FirstEnergy by 16.8% during 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 purchasing an additional 26,874 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FE shares. KeyCorp decreased their target price 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. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Morgan Stanley cut their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Trading Up 1.5 %

NYSE FE opened at $40.45 on Wednesday. The business’s fifty day moving average is $39.91 and its 200-day moving average is $41.85. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a one year low of $36.01 and a one year high of $44.97.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.20%. FirstEnergy’s payout ratio is 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.