Westpac Banking Corp lowered its position in FirstEnergy Corp. (NYSE:FE) by 12.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,128 shares of the utilities provider’s stock after selling 8,399 shares during the period. Westpac Banking Corp’s holdings in FirstEnergy were worth $2,488,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of FE. Clean Yield Group raised its position in shares of FirstEnergy by 1,184.0% during the 2nd quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 592 shares during the last quarter. Horan Securities Inc. acquired a new position in shares of FirstEnergy during the 2nd quarter worth about $28,000. Zions Bancorporation N.A. acquired a new position in shares of FirstEnergy during the 1st quarter worth about $30,000. Destination Wealth Management acquired a new position in shares of FirstEnergy during the 1st quarter worth about $35,000. Finally, Coastal Capital Group Inc. acquired a new position in shares of FirstEnergy during the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

In other FirstEnergy news, Director Christopher D. Pappas acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $41.14 per share, with a total value of $123,420.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on FE shares. KeyCorp restated an “overweight” rating and set a $46.00 price target on shares of FirstEnergy in a research report on Wednesday, June 5th. Zacks Investment Research downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price target for the company. in a research report on Tuesday, July 2nd. Mizuho reduced their price target on shares of FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, TheStreet downgraded shares of FirstEnergy from a “b” rating to a “f” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. FirstEnergy presently has a consensus rating of “Buy” and a consensus price target of $44.00.

NYSE FE traded up $0.56 during trading hours on Friday, hitting $44.68. 4,644,300 shares of the company’s stock traded hands, compared to its average volume of 5,096,562. FirstEnergy Corp. has a 52-week low of $35.33 and a 52-week high of $44.75. The company has a market capitalization of $23.48 billion, a PE ratio of 17.25, a PEG ratio of 2.94 and a beta of 0.27. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. The firm’s 50-day moving average is $43.75 and its 200-day moving average is $41.99.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company earned $0.62 EPS. FirstEnergy’s revenue was down 3.8% compared to the same quarter last year. Equities research analysts predict that FirstEnergy Corp. will post 2.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.52 annualized dividend and a yield of 3.40%. FirstEnergy’s dividend payout ratio is presently 58.69%.

FirstEnergy 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.

Read More: Moving Average – How it Helps Investors in Stock Selection

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.