FirstEnergy Corporation $FE Stock Position Lessened by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 640,201 shares of the utilities provider’s stock after selling 12,025 shares during the period. California State Teachers Retirement System owned approximately 0.11% of FirstEnergy worth $32,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State of Wyoming bought a new position in FirstEnergy in the 2nd quarter valued at about $25,000. DV Equities LLC bought a new stake in shares of FirstEnergy during the 4th quarter worth about $33,000. Pinnacle Bancorp Inc. raised its position in shares of FirstEnergy by 44.4% during the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock worth $38,000 after buying an additional 232 shares in the last quarter. Quest 10 Wealth Builders Inc. lifted its stake in shares of FirstEnergy by 507.9% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 640 shares during the period. Finally, Summit Securities Group LLC lifted its stake in shares of FirstEnergy by 148.0% in the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 2,376 shares during the period. 89.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FE. New Street Research set a $52.00 price objective on shares of FirstEnergy in a report on Tuesday, April 21st. Barclays dropped their target price on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price target on shares of FirstEnergy in a research note on Tuesday, April 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, July 22nd. Finally, Wolfe Research downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.83.

FirstEnergy Stock Performance

Shares of FE opened at $48.38 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.42. The firm’s 50 day moving average is $47.58 and its 200-day moving average is $48.25. FirstEnergy Corporation has a 12-month low of $41.87 and a 12-month high of $52.34. The stock has a market capitalization of $27.99 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.33 and a beta of 0.47.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same period in the prior year, the business earned $0.52 earnings per share. Equities research analysts anticipate that FirstEnergy Corporation will post 2.73 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, August 7th. FirstEnergy’s dividend payout ratio is 98.94%.

FirstEnergy Profile

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.