Strs Ohio owns $1.92 million of stock in FirstEnergy Corp. (NYSE:FE)


Strs Ohio has sold its position in FirstEnergy Corp. (NYSE:FE – Free Report) fell 33.7% in the fourth quarter, HoldingsChannel reports. The company owned 52,414 shares of the utility’s stock after selling 26,657 shares during the period. Strs Ohio’s holdings in FirstEnergy were worth $1,921,000 at the time of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clear Street Markets LLC grew its holdings in shares of FirstEnergy by 549.0% in the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utility’s stock valued at $27,000 after purchasing an additional 549 shares during the last quarter. Sugarloaf Wealth Management LLC acquired a new position in FirstEnergy in the 4th quarter valued at approximately $29,000. Certified Advisory Corp bought a new position in FirstEnergy in the first quarter worth about $29,000. Cornerstone Planning Group LLC acquired a new stake in FirstEnergy during the second quarter valued at approximately $31,000. Finally, MUFG Americas Holdings Corp bought a new stake in shares of FirstEnergy in the third quarter worth approximately $32,000. Institutional investors own 89.41% of the company’s shares.

FirstEnergy stock rises 1.4%

Shares of NYSE FE opened at $38.17 on Friday. The stock has a market cap of $21.97 billion, a price-to-earnings ratio of 21.09 and a beta of 0.48. The stock’s fifty-day moving average is $37.73 and its 200-day moving average is $36.99. FirstEnergy Corp. has a 52-week low of $32.18 and a 52-week high of $41.17. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48.

FirstEnergy (NYSE:FE – Get Free Report) last reported its earnings results on Friday, February 9. The energy supplier reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned earnings per share of $0.50. The company’s quarterly revenue increased 0.0% compared to the same quarter last year. Sell-side analysts predict that FirstEnergy Corp. will record a profit per share of 2.67 for the current financial year.

FirstEnergy increases dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1. A dividend of $0.425 per share will be paid to shareholders of record on Tuesday, May 7. The ex-dividend date is Monday, May 6. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. This represents a dividend of $1.70 annually and a yield of 4.45%. FirstEnergy’s dividend payout ratio currently stands at 90.61%.

Analyst upgrades and downgrades

A number of stock analysts have recently weighed in on the company. KeyCorp raised their target price on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4. StockNews.com downgraded FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12. Finally, The Goldman Sachs Group began coverage on shares of FirstEnergy in a research note on Wednesday, April 10. They gave a buy rating and a $45.00 price target for the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.38.

Get our latest stock analysis on FE

About FirstEnergy

(Free report)

FirstEnergy Corp. generates, transmits and distributes electricity in the United States through its subsidiaries. It operates through the Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind and solar energy facilities.

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Would you like to see which other hedge funds hold FE? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for FirstEnergy Corp. (NYSE:FE – Free Report).

Quarterly Institutional Ownership for FirstEnergy (NYSE:FE)



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