Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 67,833 Shares of FirstEnergy Corp. (NYSE:FE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in FirstEnergy Corp. (NYSE:FE) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,085,682 shares of the utilities provider’s stock after purchasing an additional 67,833 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in FirstEnergy were worth $41,929,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC boosted its holdings in FirstEnergy by 1.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock valued at $1,358,000 after acquiring an additional 376 shares during the period. Duality Advisers LP bought a new stake in FirstEnergy during the fourth quarter valued at about $1,644,000. Van ECK Associates Corp boosted its holdings in FirstEnergy by 41.4% during the first quarter. Van ECK Associates Corp now owns 187,964 shares of the utilities provider’s stock valued at $7,259,000 after acquiring an additional 54,990 shares during the period. Lumbard & Kellner LLC bought a new stake in FirstEnergy during the fourth quarter valued at about $2,418,000. Finally, First Pacific Advisors LP boosted its holdings in FirstEnergy by 1.3% during the fourth quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock valued at $127,623,000 after acquiring an additional 45,350 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

NYSE:FE traded up $0.11 during mid-day trading on Tuesday, hitting $38.97. The company’s stock had a trading volume of 2,205,103 shares, compared to its average volume of 2,996,993. FirstEnergy Corp. has a fifty-two week low of $32.18 and a fifty-two week high of $40.65. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 2.50 and a beta of 0.49. The stock has a fifty day moving average of $39.06 and a 200-day moving average of $38.16.

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. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.36 billion. As a group, equities analysts forecast that FirstEnergy Corp. will post 2.69 EPS for the current fiscal year.

Analysts Set New Price Targets

FE has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Mizuho upped their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. Morgan Stanley cut their price objective on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. StockNews.com raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Scotiabank cut their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, FirstEnergy presently has a consensus 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.