New York State Teachers Retirement System Has $19.26 Million Stock Position in FirstEnergy Corp. (NYSE:FE)

New York State Teachers Retirement System trimmed its holdings in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 434,262 shares of the utilities provider's stock after selling 43,453 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of FirstEnergy worth $19,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FE. FinTrust Capital Advisors LLC increased its stake in FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider's stock valued at $26,000 after buying an additional 610 shares during the period. ST Germain D J Co. Inc. raised its holdings in FirstEnergy by 1,138.9% during the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider's stock worth $26,000 after purchasing an additional 615 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in FirstEnergy in the third quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL bought a new position in FirstEnergy during the 2nd quarter valued at $32,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of FirstEnergy during the 1st quarter valued at $36,000. 89.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FE shares. Bank of America upped their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an "underperform" rating in a report on Thursday, August 29th. Scotiabank raised their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Barclays lifted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group started coverage on FirstEnergy in a research report on Monday, October 14th. They set a "hold" rating and a $46.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $46.00.

FirstEnergy Stock Performance

FE traded down $0.10 during trading on Friday, reaching $41.73. 5,641,874 shares of the company's stock were exchanged, compared to its average volume of 2,745,254. The business has a 50 day moving average price of $43.62 and a 200 day moving average price of $41.11. The company has a market capitalization of $24.05 billion, a P/E ratio of 26.92, a PEG ratio of 2.24 and a beta of 0.51. FirstEnergy Corp. has a fifty-two week low of $34.92 and a fifty-two week high of $44.97. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. As a group, analysts predict that FirstEnergy Corp. will post 2.69 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, November 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.