FirstEnergy Corp. (NYSE:FE) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in shares of FirstEnergy Corp. (NYSE:FE) by 10.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 208,519 shares of the utilities provider’s stock after selling 23,394 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in FirstEnergy were worth $8,053,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC lifted its position in shares of FirstEnergy by 1.0% in the 4th quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock worth $1,358,000 after buying an additional 376 shares during the last quarter. Duality Advisers LP bought a new position in shares of FirstEnergy in the 4th quarter worth about $1,644,000. Van ECK Associates Corp lifted its position in shares of FirstEnergy by 41.4% in the 1st quarter. Van ECK Associates Corp now owns 187,964 shares of the utilities provider’s stock worth $7,259,000 after buying an additional 54,990 shares during the last quarter. Lumbard & Kellner LLC bought a new position in shares of FirstEnergy in the 4th quarter worth about $2,418,000. Finally, Lord Abbett & CO. LLC lifted its position in shares of FirstEnergy by 5.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,335,364 shares of the utilities provider’s stock worth $51,572,000 after buying an additional 67,469 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FE shares. The Goldman Sachs Group started coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target on the stock. Scotiabank cut their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Bank of America lifted their price objective on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research report on Tuesday, April 23rd. Finally, Mizuho lifted their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and a consensus price target of $40.55.

FirstEnergy Price Performance

FirstEnergy stock traded up $0.01 during trading hours on Tuesday, hitting $41.53. 204,527 shares of the company traded hands, compared to its average volume of 2,936,702. The firm has a market cap of $23.90 billion, a P/E ratio of 23.84, a P/E/G ratio of 2.58 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The firm’s 50-day simple moving average is $39.11 and its two-hundred day simple moving average is $38.30. FirstEnergy Corp. has a 1-year low of $32.18 and a 1-year high of $41.61.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 4.09%. FirstEnergy’s payout ratio is 97.70%.

FirstEnergy Profile

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.