FirstEnergy Corporation (NYSE:FE) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 1,462.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,038 shares of the utilities provider's stock after acquiring an additional 74,917 shares during the period. Teacher Retirement System of Texas' holdings in FirstEnergy were worth $3,235,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in FirstEnergy by 69.3% in the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of FirstEnergy during the 4th quarter valued at about $26,000. Bernard Wealth Management Corp. purchased a new stake in shares of FirstEnergy during the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of FirstEnergy during the 4th quarter valued at about $33,000. Finally, Tsfg LLC increased its holdings in FirstEnergy by 143.6% during the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock worth $43,000 after purchasing an additional 632 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FirstEnergy

In related news, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the sale, the chief accounting officer owned 183 shares in the company, valued at $7,680.51. This represents a 98.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jon Taylor K. sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total value of $516,360.00. Following the completion of the sale, the chief financial officer owned 99,919 shares of the company's stock, valued at $4,299,514.57. This represents a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

FirstEnergy Stock Performance

FE opened at $39.87 on Wednesday. The company has a market cap of $23.01 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39. The stock has a 50-day moving average of $41.17 and a 200-day moving average of $40.46. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.97. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.34 and a current ratio of 0.42.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company posted $0.55 EPS. The firm's revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FE. Guggenheim lifted their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Morgan Stanley reduced their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a research report on Friday, April 25th. Evercore ISI boosted their price objective on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $46.00.

FirstEnergy Profile

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.

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