Texas Permanent School Fund Reduces Holdings in FirstEnergy Corp. (NYSE:FE)

Texas Permanent School Fund decreased its holdings in FirstEnergy Corp. (NYSE:FE) by 1.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 90,708 shares of the utilities provider’s stock after selling 1,610 shares during the quarter. Texas Permanent School Fund’s holdings in FirstEnergy were worth $3,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Exane Derivatives boosted its holdings in shares of FirstEnergy by 18.1% in the first quarter. Exane Derivatives now owns 1,868 shares of the utilities provider’s stock worth $65,000 after buying an additional 286 shares during the last quarter. IFP Advisors Inc raised its stake in FirstEnergy by 41.5% during the 1st quarter. IFP Advisors Inc now owns 14,003 shares of the utilities provider’s stock worth $482,000 after acquiring an additional 4,107 shares during the period. Tranquility Partners LLC bought a new stake in shares of FirstEnergy during the first quarter valued at approximately $225,000. Centaurus Financial Inc. raised its position in shares of FirstEnergy by 9.8% during the first quarter. Centaurus Financial Inc. now owns 5,592 shares of the utilities provider’s stock valued at $194,000 after buying an additional 500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of FirstEnergy by 6.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,899,494 shares of the utilities provider’s stock valued at $65,893,000 after buying an additional 117,551 shares during the last quarter. 79.97% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on FE shares. TheStreet raised shares of FirstEnergy from a “c+” rating to a “b-” rating in a report on Thursday, February 4th. Mizuho upped their price objective on shares of FirstEnergy from $32.00 to $33.00 in a report on Friday, February 19th. KeyCorp upgraded shares of FirstEnergy from a “sector weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Tuesday, April 27th. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating in a report on Monday, March 15th. Finally, Morgan Stanley upped their target price on FirstEnergy from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.42.

NYSE FE opened at $37.61 on Monday. The business has a fifty day moving average price of $36.01 and a 200 day moving average price of $32.27. FirstEnergy Corp. has a one year low of $22.85 and a one year high of $44.10. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.60 and a current ratio of 0.70. The company has a market cap of $20.46 billion, a P/E ratio of 27.86 and a beta of 0.20.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, April 21st. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. FirstEnergy had a return on equity of 20.15% and a net margin of 6.64%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the company earned $0.66 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts predict that FirstEnergy Corp. will post 2.54 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, May 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 60.47%.

FirstEnergy 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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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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