State of Alaska Department of Revenue Sells 42,460 Shares of FirstEnergy Corp. (NYSE:FE)

State of Alaska Department of Revenue decreased its stake in FirstEnergy Corp. (NYSE:FE - Free Report) by 30.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,219 shares of the utilities provider's stock after selling 42,460 shares during the quarter. State of Alaska Department of Revenue's holdings in FirstEnergy were worth $4,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Sachetta LLC boosted its position in shares of FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider's stock worth $39,000 after buying an additional 246 shares during the period. Commonwealth Financial Services LLC boosted its position in FirstEnergy by 4.4% during the 2nd quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider's stock worth $226,000 after acquiring an additional 249 shares during the period. Balanced Wealth Group LLC grew its stake in FirstEnergy by 1.0% during the 2nd quarter. Balanced Wealth Group LLC now owns 26,500 shares of the utilities provider's stock valued at $1,015,000 after acquiring an additional 264 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of FirstEnergy by 6.2% in the 1st quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider's stock valued at $193,000 after purchasing an additional 290 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of FirstEnergy by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 44,441 shares of the utilities provider's stock worth $1,701,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Performance

Shares of FE stock traded down $0.63 during mid-day trading on Wednesday, reaching $42.20. The stock had a trading volume of 5,933,472 shares, compared to its average volume of 2,935,750. The firm has a market cap of $24.30 billion, a PE ratio of 29.99, a P/E/G ratio of 2.28 and a beta of 0.50. FirstEnergy Corp. has a one year low of $34.92 and a one year high of $44.97. The firm's 50 day simple moving average is $43.69 and its 200 day simple moving average is $41.04. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.06). FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts forecast that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.03%. FirstEnergy's dividend payout ratio (DPR) is presently 120.57%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Argus raised shares of FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research report on Friday, September 20th. Wells Fargo & Company boosted their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. KeyCorp increased their price objective on FirstEnergy from $47.00 to $48.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a "hold" rating and a $46.00 target price on the stock. Finally, Scotiabank lifted their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Company Profile

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.