Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in FirstEnergy Corp. (NYSE:FE) by 11.1% during the first quarter, HoldingsChannel.com reports. The firm owned 29,444 shares of the utilities provider’s stock after acquiring an additional 2,938 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in FirstEnergy were worth $1,225,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FE. Lake Point Wealth Management bought a new stake in FirstEnergy in the 4th quarter worth $25,000. Legacy Advisors LLC bought a new stake in FirstEnergy in the 1st quarter worth $33,000. Whittier Trust Co. of Nevada Inc. bought a new stake in FirstEnergy in the 4th quarter worth $34,000. Destination Wealth Management bought a new stake in FirstEnergy in the 1st quarter worth $35,000. Finally, Tompkins Financial Corp grew its holdings in FirstEnergy by 50.1% in the 1st quarter. Tompkins Financial Corp now owns 1,001 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 334 shares during the last quarter. Institutional investors own 90.52% of the company’s stock.

In related news, EVP Leila L. Vespoli sold 24,400 shares of FirstEnergy stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $41.33, for a total transaction of $1,008,452.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

A number of brokerages have recently weighed in on FE. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Wednesday, May 1st. Bank of America lifted their target price on shares of FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $46.00 in a research note on Wednesday, March 20th. Finally, Morgan Stanley set a $44.00 target price on shares of FirstEnergy and gave the company a “buy” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. FirstEnergy presently has a consensus rating of “Buy” and an average price target of $42.86.

Shares of FE opened at $42.59 on Tuesday. The stock has a market cap of $22.57 billion, a PE ratio of 16.44, a P/E/G ratio of 2.74 and a beta of 0.30. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.47 and a current ratio of 0.54. FirstEnergy Corp. has a 1-year low of $32.92 and a 1-year high of $42.88.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.88 billion. FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. Research analysts expect that FirstEnergy Corp. will post 2.59 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s payout ratio is 58.69%.

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FirstEnergy Company Profile

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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