175,094 Shares in FirstEnergy Corporation $FE Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in FirstEnergy Corporation (NYSE:FE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 175,094 shares of the utilities provider’s stock, valued at approximately $8,324,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of FE. State of Wyoming acquired a new stake in shares of FirstEnergy during the second quarter worth about $25,000. Axiom Investment Management LLC acquired a new position in shares of FirstEnergy in the first quarter valued at approximately $26,000. DV Equities LLC purchased a new stake in FirstEnergy during the 4th quarter worth approximately $33,000. Summit Securities Group LLC lifted its holdings in FirstEnergy by 148.0% during the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock worth $35,000 after buying an additional 2,376 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in FirstEnergy during the 1st quarter worth approximately $37,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on FE shares. Weiss Ratings cut shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Barclays reduced their price objective on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Morgan Stanley decreased their target price on FirstEnergy from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, August 21st. UBS Group boosted their target price on FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, Wolfe Research downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Price Performance

Shares of FirstEnergy stock opened at $45.88 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88. FirstEnergy Corporation has a 52-week low of $42.87 and a 52-week high of $52.34. The company has a market capitalization of $26.55 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.19 and a beta of 0.46. The company has a 50 day moving average of $47.86 and a 200 day moving average of $48.29.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the firm posted $0.52 EPS. As a group, research analysts forecast that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy’s dividend payout ratio is 98.94%.

About FirstEnergy

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.