California State Teachers Retirement System Has $31.80 Million Position in FirstEnergy Corp. (NYSE:FE)

California State Teachers Retirement System cut its stake in FirstEnergy Corp. (NYSE:FE – Get Rating) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 859,560 shares of the utilities provider’s stock after selling 12,594 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of FirstEnergy worth $31,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FE. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of FirstEnergy in the third quarter worth $27,000. CI Investments Inc. increased its stake in shares of FirstEnergy by 940.0% in the third quarter. CI Investments Inc. now owns 728 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 658 shares during the last quarter. SJS Investment Consulting Inc. acquired a new position in shares of FirstEnergy in the third quarter worth $30,000. MUFG Americas Holdings Corp acquired a new position in shares of FirstEnergy in the third quarter worth $32,000. Finally, Mach 1 Financial Group LLC acquired a new position in shares of FirstEnergy in the third quarter worth $34,000. 81.80% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.9 %

FE stock opened at $39.78 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.61 and a quick ratio of 0.50. FirstEnergy Corp. has a 52-week low of $35.32 and a 52-week high of $48.85. The company has a 50-day moving average of $40.56 and a two-hundred day moving average of $39.91. The stock has a market capitalization of $22.76 billion, a price-to-earnings ratio of 56.03, a price-to-earnings-growth ratio of 2.43 and a beta of 0.43.

FirstEnergy (NYSE:FE – Get Rating) last released its earnings results on Monday, February 13th. The utilities provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). FirstEnergy had a net margin of 3.26% and a return on equity of 13.16%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, equities research analysts anticipate that FirstEnergy Corp. will post 2.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FE shares. StockNews.com started coverage on shares of FirstEnergy in a report on Thursday. They issued a “hold” rating for the company. Bank of America cut shares of FirstEnergy from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $41.00 to $38.00 in a report on Monday, January 23rd. Wells Fargo & Company upped their price objective on shares of FirstEnergy to $45.00 in a report on Wednesday, December 14th. Mizuho decreased their price objective on shares of FirstEnergy from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, February 6th. Finally, Guggenheim upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $46.00 in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and an average price target of $43.89.

FirstEnergy Profile

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FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate or Other.