Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 3,994 Shares of FirstEnergy Corp. (NYSE:FE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in FirstEnergy Corp. (NYSE:FE) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077,398 shares of the utilities provider’s stock after selling 3,994 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.19% of FirstEnergy worth $42,859,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of FirstEnergy in the fourth quarter valued at about $26,000. True Wealth Design LLC lifted 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 worth $29,000 after purchasing an additional 640 shares in the last quarter. WASHINGTON TRUST Co grew its stake in shares of 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 purchasing an additional 586 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $33,000. Finally, Cedar Mountain Advisors LLC bought a new position in FirstEnergy in the 4th quarter worth approximately $34,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Down 0.8 %

Shares of NYSE FE opened at $39.58 on Thursday. FirstEnergy Corp. has a twelve month low of $36.81 and a twelve month high of $44.97. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The company’s fifty day moving average is $39.93 and its 200-day moving average is $41.38.

FirstEnergy (NYSE:FE) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.53 billion. Equities research analysts predict that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 4.50%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.43. FirstEnergy’s dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

A number of research analysts have commented on FE shares. Scotiabank decreased their price objective on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company decreased their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Morgan Stanley cut their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, Guggenheim reduced their price objective on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.33.

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.