FirstEnergy Corp. (NYSE:FE) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 278,345 shares of the utilities provider’s stock after selling 5,429 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in FirstEnergy were worth $11,073,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wedge Capital Management L L P NC purchased a new stake in FirstEnergy in the fourth quarter valued at $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 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. DRW Securities LLC acquired a new position in shares of FirstEnergy during the 3rd quarter worth about $1,154,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of FirstEnergy by 41.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock worth $1,902,000 after purchasing an additional 14,129 shares during the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in FirstEnergy in the 4th quarter valued at about $664,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Trading Down 0.5 %

Shares of FE opened at $40.04 on Monday. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97. The firm has a market capitalization of $23.08 billion, a P/E ratio of 25.83, a PEG ratio of 2.01 and a beta of 0.52. 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 firm’s 50-day moving average is $39.83 and its two-hundred day moving average is $41.81.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Friday, February 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FE shares. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. KeyCorp lowered 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. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley decreased their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.27.

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.