Kentucky Retirement Systems Has $1.52 Million Stake in FirstEnergy Corp. (NYSE:FE)

Kentucky Retirement Systems decreased its stake in FirstEnergy Corp. (NYSE:FE) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,219 shares of the utilities provider’s stock after selling 2,101 shares during the quarter. Kentucky Retirement Systems’ holdings in FirstEnergy were worth $1,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sachetta LLC purchased a new stake in FirstEnergy in the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC lifted its position in FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after buying an additional 610 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in FirstEnergy in the 4th quarter worth approximately $31,000. Blue Trust Inc. lifted its position in FirstEnergy by 327.3% in the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $35,000 after buying an additional 792 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of FirstEnergy during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

NYSE FE traded up $0.49 during midday trading on Friday, hitting $40.94. The company had a trading volume of 2,054,194 shares, compared to its average volume of 2,303,508. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The stock has a market cap of $23.56 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.59 and a beta of 0.49. The firm has a fifty day simple moving average of $39.08 and a two-hundred day simple moving average of $38.28. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $41.05.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. Equities analysts forecast that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 4.15%. FirstEnergy’s dividend payout ratio is 97.70%.

Wall Street Analysts Forecast Growth

FE has been the topic of a number of recent research reports. Bank of America raised their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. Morgan Stanley cut their price target on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Barclays raised their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $40.55.

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.