FirstEnergy Corp. (NYSE:FE) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in FirstEnergy Corp. (NYSE:FE) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,068 shares of the utilities provider’s stock after selling 1,196 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in FirstEnergy were worth $1,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors grew its position in shares of FirstEnergy by 14.3% in the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after purchasing an additional 9,773,785 shares during the last quarter. Boston Partners lifted its stake in shares of FirstEnergy by 2.3% in the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock valued at $367,423,000 after purchasing an additional 218,165 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of FirstEnergy by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock worth $344,908,000 after acquiring an additional 82,482 shares in the last quarter. First Pacific Advisors LP lifted its stake in shares of FirstEnergy by 2.0% during the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock worth $136,152,000 after purchasing an additional 69,512 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in FirstEnergy by 7.6% in the second quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after acquiring an additional 193,540 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Price Performance

FE stock opened at $43.47 on Friday. FirstEnergy Corp. has a 1 year low of $32.97 and a 1 year high of $44.97. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 2.32 and a beta of 0.50. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. The company has a 50 day simple moving average of $43.32 and a 200 day simple moving average of $40.39.

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

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a yield of 3.91%. FirstEnergy’s payout ratio is 97.70%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, September 20th. KeyCorp raised their target price on shares of FirstEnergy from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Barclays raised their price objective on FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Finally, Scotiabank lifted their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, FirstEnergy currently has a consensus rating of “Hold” and an average price target of $44.55.

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.