FirstEnergy Corporation $FE Shares Sold by Strs Ohio

Strs Ohio trimmed its stake in FirstEnergy Corporation (NYSE:FE) by 81.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,121 shares of the utilities provider’s stock after selling 57,043 shares during the period. Strs Ohio’s holdings in FirstEnergy were worth $601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. American National Bank & Trust grew its holdings in shares of FirstEnergy by 380.2% during the third quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 460 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in FirstEnergy during the 3rd quarter worth approximately $27,000. TruNorth Capital Management LLC increased its position in FirstEnergy by 187.5% during the third quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock worth $28,000 after buying an additional 405 shares during the period. State of Wyoming purchased a new stake in FirstEnergy in the second quarter valued at approximately $25,000. Finally, Capital Advisors Ltd. LLC lifted its stake in FirstEnergy by 186.4% in the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after buying an additional 440 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Down 0.3%

Shares of NYSE:FE opened at $47.27 on Friday. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The firm’s 50-day simple moving average is $45.64 and its 200-day simple moving average is $44.82. The company has a market cap of $27.30 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.70 and a beta of 0.64.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be given a dividend of $0.445 per share. The ex-dividend date is Friday, February 6th. This represents a $1.78 annualized dividend and a yield of 3.8%. FirstEnergy’s payout ratio is presently 77.73%.

Analysts Set New Price Targets

FE has been the topic of a number of recent research reports. Scotiabank lifted their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. Mizuho raised their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. KeyCorp cut shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 14th. Citigroup started coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price for the company. Finally, Barclays dropped their price target on FirstEnergy from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.85.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.