Illinois Municipal Retirement Fund raised its stake in FirstEnergy Corp. (NYSE:FE) by 606.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,288 shares of the utilities provider’s stock after purchasing an additional 62,055 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in FirstEnergy were worth $2,508,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Investment Advisors LLC boosted its holdings in shares of FirstEnergy by 2.3% in the 1st quarter. Capital Investment Advisors LLC now owns 14,000 shares of the utilities provider’s stock valued at $486,000 after purchasing an additional 311 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of FirstEnergy by 8.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 18,060 shares of the utilities provider’s stock valued at $627,000 after acquiring an additional 1,483 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in shares of FirstEnergy by 1.8% during the 1st quarter. United Asset Strategies Inc. now owns 22,602 shares of the utilities provider’s stock valued at $784,000 after acquiring an additional 392 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of FirstEnergy by 14.6% during the 1st quarter. AE Wealth Management LLC now owns 60,181 shares of the utilities provider’s stock valued at $2,088,000 after acquiring an additional 7,653 shares in the last quarter. Finally, Tuttle Tactical Management acquired a new position in shares of FirstEnergy during the 1st quarter valued at $235,000. Institutional investors own 79.97% of the company’s stock.
Shares of NYSE:FE opened at $38.32 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.70 and a debt-to-equity ratio of 3.09. FirstEnergy Corp. has a fifty-two week low of $22.85 and a fifty-two week high of $44.10. The firm has a 50-day simple moving average of $35.42 and a 200 day simple moving average of $31.99. The company has a market cap of $20.85 billion, a PE ratio of 28.39 and a beta of 0.20.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 7th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 6th. FirstEnergy’s dividend payout ratio is presently 60.47%.
Several equities analysts recently weighed in on the stock. Wells Fargo & Company lowered shares of FirstEnergy from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $31.00 to $32.00 in a report on Wednesday, January 6th. Mizuho lifted their price target on shares of FirstEnergy from $32.00 to $33.00 in a research note on Friday, February 19th. Morgan Stanley lifted their price target on shares of FirstEnergy from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating in a research note on Monday, March 15th. Finally, KeyCorp raised shares of FirstEnergy from a “sector weight” rating to an “overweight” rating and set a $42.00 price target on the stock in a research note on Tuesday, April 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $39.42.
FirstEnergy Company Profile
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 operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.
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