FirstEnergy Corp. (NYSE:FE) Position Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 384,153 shares of the utilities provider's stock after selling 50,109 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of FirstEnergy worth $15,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FE. Livelsberger Financial Advisory bought a new stake in FirstEnergy in the 3rd quarter valued at about $26,000. True Wealth Design LLC raised its holdings in shares of FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider's stock valued at $29,000 after buying an additional 640 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $34,000. Quarry LP grew its holdings in FirstEnergy by 59.1% in the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider's stock worth $38,000 after buying an additional 320 shares in the last quarter. Finally, Luken Investment Analytics LLC bought a new position in FirstEnergy in the 4th quarter worth approximately $40,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FE shares. Morgan Stanley reduced their price target on FirstEnergy from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. KeyCorp cut their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Wolfe Research downgraded shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 23rd. Seaport Res Ptn lowered shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Finally, Scotiabank upgraded shares of FirstEnergy from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $45.00 to $50.00 in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.27.

FirstEnergy Price Performance

FirstEnergy stock traded up $0.71 during mid-day trading on Thursday, hitting $41.37. The company's stock had a trading volume of 4,478,524 shares, compared to its average volume of 3,577,170. The stock has a market capitalization of $23.84 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.03 and a beta of 0.52. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97. The stock's fifty day moving average price is $39.83 and its two-hundred day moving average price is $41.77. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy's payout ratio is 109.68%.

About FirstEnergy

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