Vestcor Inc Sells 6,166 Shares of FirstEnergy Corp. (NYSE:FE)

Vestcor Inc decreased its stake in FirstEnergy Corp. (NYSE:FE) by 26.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,073 shares of the utilities provider’s stock after selling 6,166 shares during the quarter. Vestcor Inc’s holdings in FirstEnergy were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in shares of FirstEnergy in the 3rd quarter valued at $26,000. True Wealth Design LLC grew its stake in FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of FirstEnergy in the second quarter worth about $32,000. Quarry LP raised its position in shares of FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares during the period. Finally, Sachetta LLC lifted its holdings in shares of FirstEnergy by 36.0% during the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on FE shares. Bank of America raised their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. KeyCorp dropped their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $45.00 to $50.00 in a research note on Thursday. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. upped their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, FirstEnergy currently has an average rating of “Hold” and an average target price of $46.27.

FirstEnergy Stock Up 0.5 %

FE stock opened at $40.32 on Friday. The company has a market cap of $23.24 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 2.17 and a beta of 0.51. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97. The business has a 50 day moving average price of $42.26 and a two-hundred day moving average price of $41.59. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. Analysts anticipate that FirstEnergy Corp. will post 2.68 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Thursday, November 7th. FirstEnergy’s payout ratio is 109.68%.

FirstEnergy Company 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.