Sumitomo Mitsui Trust Holdings Inc. raised its stake in FirstEnergy Corporation (NYSE:FE) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,256,711 shares of the utilities provider’s stock after buying an additional 44,965 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of FirstEnergy Corporation worth $36,646,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FE. BlackRock Inc. increased its stake in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares during the last quarter. Bank of New York Mellon Corp increased its stake in FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock valued at $343,698,000 after buying an additional 5,141,450 shares during the last quarter. Vanguard Group Inc. increased its stake in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares during the last quarter. Prudential Financial Inc. increased its stake in FirstEnergy Corporation by 73.2% in the first quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock valued at $162,172,000 after buying an additional 2,154,657 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in FirstEnergy Corporation by 54.8% in the first quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock valued at $140,747,000 after buying an additional 1,566,627 shares during the last quarter. 79.85% of the stock is owned by institutional investors.

FirstEnergy Corporation (FE) opened at 32.69 on Monday. FirstEnergy Corporation has a 1-year low of $27.93 and a 1-year high of $34.96. The firm has a 50-day moving average of $31.55 and a 200-day moving average of $30.57. The stock’s market capitalization is $14.52 billion.

FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company earned $0.56 EPS. FirstEnergy Corporation’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts expect that FirstEnergy Corporation will post $2.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a $0.36 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.44 annualized dividend and a yield of 4.41%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.

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Several research analysts recently weighed in on the stock. J P Morgan Chase & Co cut shares of FirstEnergy Corporation from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $32.00 in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) cut shares of FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a report on Monday, June 26th. Barclays PLC upgraded shares of FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $38.00 to $36.00 in a report on Monday, May 1st. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy Corporation in a report on Tuesday, July 11th. Finally, Zacks Investment Research cut shares of FirstEnergy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. FirstEnergy Corporation has an average rating of “Hold” and an average price target of $33.80.

About FirstEnergy Corporation

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

Institutional Ownership by Quarter for FirstEnergy Corporation (NYSE:FE)

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