State Board of Administration of Florida Retirement System Acquires 907 Shares of FirstEnergy Corp. (NYSE:FE)

State Board of Administration of Florida Retirement System increased its stake in shares of FirstEnergy Corp. (NYSE:FEFree Report) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 580,064 shares of the utilities provider’s stock after buying an additional 907 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.10% of FirstEnergy worth $19,827,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of FirstEnergy in the 3rd quarter worth approximately $25,000. Clear Street Markets LLC lifted its holdings in FirstEnergy by 549.0% during the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 549 shares during the period. Certified Advisory Corp purchased a new position in FirstEnergy in the first quarter worth $29,000. Cornerstone Planning Group LLC bought a new position in FirstEnergy in the 2nd quarter valued at $31,000. Finally, MUFG Americas Holdings Corp purchased a new stake in shares of FirstEnergy during the 3rd quarter valued at $32,000. 82.34% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

FirstEnergy stock opened at $37.31 on Friday. The firm has a market capitalization of $21.41 billion, a P/E ratio of 20.61 and a beta of 0.49. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $41.99. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.53 and a quick ratio of 0.43. The business has a fifty day moving average price of $37.07 and a 200-day moving average price of $36.50.

FirstEnergy (NYSE:FEGet Free Report) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a return on equity of 13.53% and a net margin of 8.56%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities research analysts forecast that FirstEnergy Corp. will post 2.68 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s payout ratio is 90.61%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Morgan Stanley dropped their price objective on FirstEnergy from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Finally, KeyCorp raised their target price on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and an average price target of $39.67.

Check Out Our Latest Analysis on FE

Insider Buying and Selling

In other news, SVP Christine Walker sold 12,500 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $37.58, for a total value of $469,750.00. Following the transaction, the senior vice president now owns 36,959 shares of the company’s stock, valued at approximately $1,388,919.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by company insiders.

About FirstEnergy

(Free Report)

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.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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