Teachers Retirement System of The State of Kentucky Sells 1,673 Shares of FirstEnergy Corp. (NYSE:FE)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of FirstEnergy Corp. (NYSE:FEGet Rating) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,458 shares of the utilities provider’s stock after selling 1,673 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in FirstEnergy were worth $1,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FE. Kentucky Retirement Systems Insurance Trust Fund raised its position in FirstEnergy by 15.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,830 shares of the utilities provider’s stock valued at $772,000 after purchasing an additional 2,308 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in FirstEnergy by 5.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 99,266 shares of the utilities provider’s stock valued at $4,552,000 after purchasing an additional 5,561 shares during the last quarter. Private Advisor Group LLC raised its position in FirstEnergy by 2.0% in the first quarter. Private Advisor Group LLC now owns 25,462 shares of the utilities provider’s stock valued at $1,167,000 after purchasing an additional 496 shares during the last quarter. Independent Advisor Alliance raised its position in FirstEnergy by 53.9% in the first quarter. Independent Advisor Alliance now owns 10,415 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 3,646 shares during the last quarter. Finally, Stephens Inc. AR raised its position in FirstEnergy by 13.0% in the fourth quarter. Stephens Inc. AR now owns 15,388 shares of the utilities provider’s stock valued at $640,000 after purchasing an additional 1,770 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors.

FirstEnergy Trading Down 0.9 %

NYSE FE opened at $41.00 on Thursday. The business has a 50 day simple moving average of $39.96 and a 200 day simple moving average of $41.64. FirstEnergy Corp. has a one year low of $35.32 and a one year high of $48.85. The stock has a market capitalization of $23.43 billion, a P/E ratio of 16.67, a P/E/G ratio of 2.59 and a beta of 0.44. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.75 and a quick ratio of 0.66.

FirstEnergy (NYSE:FEGet Rating) last released its earnings results on Tuesday, July 26th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. FirstEnergy had a return on equity of 15.13% and a net margin of 11.78%. During the same quarter in the previous year, the company earned $0.59 earnings per share. Research analysts expect that FirstEnergy Corp. will post 2.41 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 4th. This represents a $1.56 annualized dividend and a yield of 3.80%. FirstEnergy’s dividend payout ratio is currently 63.41%.

Analyst Ratings Changes

Several equities analysts have commented on FE shares. Wells Fargo & Company dropped their target price on FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Morgan Stanley raised their price objective on FirstEnergy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 23rd. KeyCorp lowered their price objective on FirstEnergy from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Mizuho lowered their price objective on FirstEnergy from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, June 7th. Finally, StockNews.com downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.75.

About FirstEnergy

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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, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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