Mutual of America Capital Management LLC Trims Stake in FirstEnergy Corp. (NYSE:FE)

Mutual of America Capital Management LLC lessened its position in shares of FirstEnergy Corp. (NYSE:FE) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,437 shares of the utilities provider’s stock after selling 1,672 shares during the quarter. Mutual of America Capital Management LLC’s holdings in FirstEnergy were worth $2,444,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new position in shares of FirstEnergy during the fourth quarter worth approximately $12,198,000. Allspring Global Investments Holdings LLC boosted its stake in FirstEnergy by 2.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock worth $371,911,000 after purchasing an additional 220,433 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in FirstEnergy by 7.9% during the 3rd 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 last quarter. Van ECK Associates Corp increased its stake in FirstEnergy by 95.3% in the fourth quarter. Van ECK Associates Corp now owns 323,079 shares of the utilities provider’s stock valued at $12,852,000 after purchasing an additional 157,666 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of FirstEnergy by 177.6% in the fourth quarter. CIBC Asset Management Inc now owns 212,358 shares of the utilities provider’s stock valued at $8,448,000 after buying an additional 135,870 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE opened at $38.54 on Friday. The company has a market capitalization of $22.22 billion, a PE ratio of 24.86, a P/E/G ratio of 2.07 and a beta of 0.48. FirstEnergy Corp. has a 52-week low of $36.81 and a 52-week high of $44.97. The company has a 50-day simple moving average of $39.98 and a 200-day simple moving average of $41.62. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

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

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Friday, February 7th. FirstEnergy’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

FE has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. KeyCorp lowered their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Scotiabank dropped their target price on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. Morgan Stanley decreased their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Guggenheim dropped their price objective on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.33.

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.