Mirae Asset Global Investments Co. Ltd. Sells 12,644 Shares of FirstEnergy Corp. (NYSE:FE)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of FirstEnergy Corp. (NYSE:FE) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,076 shares of the utilities provider’s stock after selling 12,644 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in FirstEnergy were worth $3,412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of FirstEnergy during the 3rd quarter worth $25,000. Clear Street Markets LLC boosted its stake in shares of FirstEnergy by 549.0% during the 4th quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 549 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new position in shares of FirstEnergy during the 4th quarter valued at $29,000. Certified Advisory Corp purchased a new position in shares of FirstEnergy during the 1st quarter valued at $29,000. Finally, Cornerstone Planning Group LLC purchased a new position in shares of FirstEnergy during the 2nd quarter valued at $31,000. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

FE has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price on the stock. StockNews.com downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Finally, KeyCorp lifted their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.38.

FirstEnergy Stock Performance

FirstEnergy stock opened at $37.45 on Thursday. The company has a market cap of $21.55 billion, a PE ratio of 20.69 and a beta of 0.48. FirstEnergy Corp. has a twelve month low of $32.18 and a twelve month high of $41.17. The company’s 50-day moving average price is $37.67 and its 200-day moving average price is $36.92. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 2.10.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.54%. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 90.61%.

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.