Louisiana State Employees Retirement System Lowers Position in FirstEnergy Corp. (NYSE:FE)

Louisiana State Employees Retirement System cut its stake in FirstEnergy Corp. (NYSE:FE) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,600 shares of the utilities provider’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in FirstEnergy were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in shares of FirstEnergy during the third quarter valued at approximately $26,000. True Wealth Design LLC increased its position in shares of FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $34,000. Quarry LP increased its position in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after buying an additional 320 shares during the last quarter. Finally, Luken Investment Analytics LLC purchased a new stake in FirstEnergy in the fourth quarter worth $40,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

NYSE:FE opened at $40.04 on Tuesday. The firm has a market capitalization of $23.08 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a 52-week low of $36.01 and a 52-week high of $44.97. The stock has a fifty day moving average of $39.83 and a 200 day moving average of $41.81. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio is 109.68%.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of recent research reports. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley decreased their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp cut their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Company 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.