FirstEnergy Corp. (NYSE:FE) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,321 shares of the utilities provider’s stock after selling 2,857 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in FirstEnergy were worth $2,155,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. FinTrust Capital Advisors LLC lifted its position in FirstEnergy by 1,150.9% in the first 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. lifted its holdings in shares of 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 purchasing an additional 615 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of FirstEnergy in the 4th quarter valued at about $31,000. Sachetta LLC grew its stake in FirstEnergy by 36.0% during the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after buying an additional 246 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in FirstEnergy during the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.1 %

NYSE:FE opened at $44.03 on Tuesday. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $44.97. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51. The stock has a fifty day moving average price of $42.61 and a two-hundred day moving average price of $40.06. The stock has a market capitalization of $25.34 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 2.32 and a beta of 0.50.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the business earned $0.47 earnings per share. As a group, sell-side analysts anticipate that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently disclosed 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 was Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 3.86%. FirstEnergy’s dividend payout ratio is presently 97.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FE shares. Mizuho raised their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. Barclays lifted their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Bank of America upped their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.18.

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.