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 position in FirstEnergy Corp. (NYSE:FEGet Rating) by 4.2% in the first quarter, Holdings Channel.com reports. 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 hedge funds have also bought and sold shares of the stock. Rehmann Capital Advisory Group lifted its position in FirstEnergy by 3.5% during the first quarter. Rehmann Capital Advisory Group now owns 7,838 shares of the utilities provider’s stock valued at $359,000 after purchasing an additional 263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in FirstEnergy by 32.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,689 shares of the utilities provider’s stock valued at $2,141,000 after purchasing an additional 11,502 shares during the last quarter. Gradient Investments LLC lifted its position in FirstEnergy by 4.6% during the first quarter. Gradient Investments LLC now owns 5,353 shares of the utilities provider’s stock valued at $245,000 after purchasing an additional 237 shares during the last quarter. Midwest Wealth Management Inc. lifted its position in FirstEnergy by 4.1% during the first quarter. Midwest Wealth Management Inc. now owns 37,854 shares of the utilities provider’s stock valued at $1,736,000 after purchasing an additional 1,501 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of FirstEnergy by 8.5% in the 1st quarter. Neuberger Berman Group LLC now owns 145,263 shares of the utilities provider’s stock worth $6,690,000 after acquiring an additional 11,336 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FE has been the subject of a number of recent research reports. StockNews.com lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Mizuho lowered their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, June 7th. Barclays lowered their price objective on shares of FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. KeyCorp lowered their price objective on shares of FirstEnergy from $51.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, Morgan Stanley boosted their price objective on shares of FirstEnergy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.75.

FirstEnergy Stock Performance

Shares of FE opened at $41.00 on Thursday. 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 Corp. has a one year low of $35.32 and a one year high of $48.85. The company has a 50-day simple moving average of $39.96 and a two-hundred day simple moving average of $41.64. The firm has a market capitalization of $23.43 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.59 and a beta of 0.44.

FirstEnergy (NYSE:FEGet Rating) last issued its quarterly earnings data 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 net margin of 11.78% and a return on equity of 15.13%. During the same period last year, the firm earned $0.59 earnings per share. On average, analysts anticipate that FirstEnergy Corp. will post 2.41 EPS for the current fiscal year.

FirstEnergy Announces Dividend

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

FirstEnergy Profile

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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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