FirstEnergy Corp. (NYSE:FE) Holdings Cut by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,223 shares of the utilities provider’s stock after selling 485 shares during the period. Kentucky Retirement Systems’ holdings in FirstEnergy were worth $1,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FE. Kestra Investment Management LLC bought a new stake in FirstEnergy in the fourth quarter worth approximately $26,000. True Wealth Design LLC grew its position in FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 640 shares during the last quarter. WASHINGTON TRUST Co increased its stake in FirstEnergy by 293.0% during the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 586 shares during the period. Cedar Mountain Advisors LLC acquired a new position in shares of FirstEnergy in the fourth quarter valued at $34,000. Finally, Quarry LP raised its stake in shares of FirstEnergy by 59.1% in the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after buying an additional 320 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FE has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. KeyCorp reduced their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Wolfe Research cut FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One investment 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. According to data from MarketBeat.com, FirstEnergy currently has an average rating of “Hold” and a consensus target price of $46.27.

FirstEnergy Price Performance

NYSE FE opened at $42.34 on Monday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.07 and a beta of 0.52. The business has a 50 day simple moving average of $39.89 and a 200 day simple moving average of $41.77. FirstEnergy Corp. has a 52-week low of $36.01 and a 52-week high of $44.97.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio is 109.68%.

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.