An increase in the neutral current results in a malfunction of the low energy over current (LCO) protective relay and raises the neutral-to-ground voltage in three-phase, four-wire radial distribution feeders. Thus, the key point for mitigating its effect is to keep the current under a specific level. The most common approach for reducing the neutral current caused by the inherent imbalance of distribution feeders is to rearrange the phase connection between the distribution transformers and the load tapped-off points by using the metaheuristics algorithms. However, the primary task is to obtain the effective load data for phase rearrangement; otherwise, the outcomes would not be worthy of practical application. In this paper, the effective load data can be received from the feeder terminal unit (FTU) installed along the feeder of Taipower. The net load data consisting of customers’ power consumption and the power generation of distributed energy resources (DERs) were measured and transmitted to the feeder dispatch control center (FDCC). This paper proposes a method of establishing the equivalent full-scale net load model based on FTU data format, and the long short-term memory (LSTM) was adopted for monthly load forecasting. Furthermore, the full-scale net load model was built by the monthly per hour load data. Next, the particle swarm optimization (PSO) algorithm was applied to rearrange the phase connection of the distribution transformers with the aim of minimizing the neutral current. The outcomes of this paper are helpful for the optimal setting of the limit current of the LCO relay and to avoid its malfunction. Furthermore, the proposed method can also improve the three-phase imbalance of distribution feeders, thus reducing extra power loss and increasing the operating efficiency of three-phase induction motors.