Public Employees Retirement System of Ohio Increases Stock Position in FirstEnergy Corp. (NYSE:FE)

Public Employees Retirement System of Ohio boosted its position in FirstEnergy Corp. (NYSE:FE) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 186,673 shares of the utilities provider’s stock after acquiring an additional 842 shares during the period. Public Employees Retirement System of Ohio’s holdings in FirstEnergy were worth $7,991,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Pearl River Capital LLC purchased a new position in FirstEnergy during the 2nd quarter valued at $25,000. Clean Yield Group increased its position in shares of FirstEnergy by 1,184.0% during the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock valued at $27,000 after buying an additional 592 shares during the period. Horan Securities Inc. bought a new position in FirstEnergy in the second quarter worth about $28,000. Meeder Asset Management Inc. raised its stake in FirstEnergy by 805.3% in the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock worth $29,000 after buying an additional 604 shares in the last quarter. Finally, Zions Bancorporation N.A. purchased a new stake in FirstEnergy in the first quarter worth about $30,000. 94.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE FE traded up $0.59 on Wednesday, reaching $47.33. 100,396 shares of the company’s stock traded hands, compared to its average volume of 3,657,936. FirstEnergy Corp. has a 12 month low of $35.33 and a 12 month high of $47.05. The business’s 50 day simple moving average is $44.91 and its two-hundred day simple moving average is $42.76. The company has a market cap of $25.20 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 3.13 and a beta of 0.21. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 2.63.

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 Zacks’ consensus estimate of $0.60 by $0.01. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. Analysts forecast that FirstEnergy Corp. will post 2.5 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.38 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.21%. FirstEnergy’s dividend payout ratio is currently 58.69%.

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

About FirstEnergy

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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