Mirae Asset Global Investments Co. Ltd. Acquires 14,129 Shares of FirstEnergy Corp. (NYSE:FE)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in FirstEnergy Corp. (NYSE:FE) by 41.8% in the fourth quarter, Holdings Channel reports. The firm owned 47,956 shares of the utilities provider’s stock after purchasing an additional 14,129 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in FirstEnergy were worth $1,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Livelsberger Financial Advisory bought a new position in shares of FirstEnergy in the third quarter valued at $26,000. True Wealth Design LLC lifted its stake in FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of FirstEnergy in the 4th quarter valued at about $34,000. Quarry LP increased its stake in shares of FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares during the last quarter. Finally, Luken Investment Analytics LLC bought a new stake in shares of FirstEnergy in the 4th quarter valued at about $40,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Price Performance

Shares of NYSE FE opened at $39.82 on Tuesday. The business has a fifty day moving average price of $39.95 and a two-hundred day moving average price of $41.85. The stock has a market capitalization of $22.95 billion, a PE ratio of 25.69, a P/E/G ratio of 2.01 and a beta of 0.52. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a fifty-two week low of $36.01 and a fifty-two week high of $44.97.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 annualized dividend and a yield of 4.27%. FirstEnergy’s dividend payout ratio is 109.68%.

Analyst Ratings Changes

A number of brokerages have weighed in on FE. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.27.

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.