Tredje AP fonden Sells 1,339 Shares of FirstEnergy Corp. (NYSE:FE)

Tredje AP fonden trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,899 shares of the utilities provider’s stock after selling 1,339 shares during the period. Tredje AP fonden’s holdings in FirstEnergy were worth $3,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC bought a new stake in FirstEnergy in the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC increased its holdings in FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 610 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 615 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FirstEnergy in the 4th quarter valued at $31,000. Finally, Western Pacific Wealth Management LP bought a new stake in FirstEnergy in the 1st quarter valued at $36,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Stock Performance

Shares of NYSE:FE opened at $43.23 on Friday. The company has a market capitalization of $24.88 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.32 and a beta of 0.50. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $44.97. The firm’s 50-day moving average is $42.41 and its 200 day moving average is $39.93. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period in the prior year, the firm posted $0.47 EPS. Research analysts predict that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.425 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 3.93%. FirstEnergy’s payout ratio is 97.70%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FE shares. Bank of America lifted their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays boosted their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Mizuho upped their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. KeyCorp upped their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Scotiabank upped their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, FirstEnergy currently has an average rating of “Hold” and a consensus target price of $43.60.

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.