Jennison Associates LLC Has $57.73 Million Holdings in FirstEnergy Corp. (NYSE:FE)

Jennison Associates LLC decreased its position in FirstEnergy Corp. (NYSE:FE) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,451,095 shares of the utilities provider’s stock after selling 238,450 shares during the period. Jennison Associates LLC owned about 0.25% of FirstEnergy worth $57,725,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of FirstEnergy by 1,417.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock worth $32,965,000 after purchasing an additional 694,313 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of FirstEnergy by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after acquiring an additional 457,231 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in FirstEnergy during the 4th quarter valued at $12,198,000. International Assets Investment Management LLC increased its stake in shares of FirstEnergy by 4,445.0% in the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after buying an additional 214,606 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of FirstEnergy by 7.9% in 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 valued at $104,057,000 after buying an additional 171,955 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analysts Set New Price Targets

FE has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group started coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 price target for the company. Seaport Res Ptn lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, KeyCorp dropped their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, FirstEnergy has an average rating of “Hold” and an average price target of $46.27.

FirstEnergy Stock Up 0.5 %

Shares of FE stock opened at $40.01 on Tuesday. 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 fifty day moving average price is $40.18 and its two-hundred day moving average price is $41.84. The firm has a market capitalization of $23.06 billion, a P/E ratio of 25.81, a PEG ratio of 1.99 and a beta of 0.52. FirstEnergy Corp. has a 1 year low of $35.41 and a 1 year high of $44.97.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a dividend of $0.425 per share. 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 109.68%.

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.