FirstEnergy Corporation (FE) Shares Sold by State of Tennessee Treasury Department

State of Tennessee Treasury Department trimmed its stake in shares of FirstEnergy Corporation (NYSE:FE) by 36.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,743 shares of the utilities provider’s stock after selling 69,312 shares during the period. State of Tennessee Treasury Department’s holdings in FirstEnergy Corporation were worth $3,723,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Washington Trust Bank increased its stake in FirstEnergy Corporation by 0.3% in the 2nd quarter. Washington Trust Bank now owns 13,570 shares of the utilities provider’s stock valued at $396,000 after buying an additional 36 shares during the last quarter. Sandy Spring Bank increased its stake in FirstEnergy Corporation by 1.3% in the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after buying an additional 66 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in FirstEnergy Corporation by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,967 shares of the utilities provider’s stock valued at $961,000 after buying an additional 145 shares during the last quarter. Sentry Investment Management LLC increased its stake in FirstEnergy Corporation by 0.5% in the 2nd quarter. Sentry Investment Management LLC now owns 35,060 shares of the utilities provider’s stock valued at $1,022,000 after buying an additional 185 shares during the last quarter. Finally, Norinchukin Bank The increased its stake in FirstEnergy Corporation by 0.7% in the 2nd quarter. Norinchukin Bank The now owns 36,293 shares of the utilities provider’s stock valued at $1,058,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 79.23% of the company’s stock.

Shares of FirstEnergy Corporation (NYSE:FE) opened at $34.64 on Friday. The company has a market cap of $15,472.16, a PE ratio of 12.74 and a beta of 0.24. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. FirstEnergy Corporation has a twelve month low of $27.93 and a twelve month high of $35.22.

FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.11. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy Corporation had a negative net margin of 35.99% and a positive return on equity of 19.29%. During the same quarter in the previous year, the firm posted $0.90 EPS. analysts forecast that FirstEnergy Corporation will post 3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, November 6th. FirstEnergy Corporation’s payout ratio is presently -12.31%.

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Several equities research analysts have issued reports on FE shares. Zacks Investment Research lowered shares of FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Deutsche Bank AG reiterated a “hold” rating and issued a $34.00 price target (up from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. ValuEngine upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday. J P Morgan Chase & Co set a $34.00 price target on shares of FirstEnergy Corporation and gave the company a “hold” rating in a research note on Thursday, October 12th. Finally, Mizuho reiterated a “hold” rating and issued a $30.50 price target on shares of FirstEnergy Corporation in a research note on Tuesday, October 24th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. FirstEnergy Corporation has an average rating of “Hold” and an average target price of $34.39.

FirstEnergy Corporation Company Profile

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

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

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