New York State Teachers Retirement System Raises Position in FirstEnergy Corporation (NYSE:FE)

New York State Teachers Retirement System boosted its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 397,897 shares of the utilities provider's stock after acquiring an additional 13,744 shares during the quarter. New York State Teachers Retirement System owned 0.07% of FirstEnergy worth $16,083,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of FirstEnergy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 65,843,901 shares of the utilities provider's stock worth $2,619,270,000 after acquiring an additional 508,570 shares in the last quarter. Boston Partners boosted its holdings in FirstEnergy by 73.5% during the fourth quarter. Boston Partners now owns 16,503,080 shares of the utilities provider's stock worth $656,309,000 after purchasing an additional 6,991,866 shares during the last quarter. Geode Capital Management LLC grew its position in FirstEnergy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 12,527,440 shares of the utilities provider's stock worth $497,009,000 after purchasing an additional 329,049 shares in the last quarter. Soroban Capital Partners LP increased its stake in FirstEnergy by 60.2% in the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock valued at $331,795,000 after buying an additional 3,133,083 shares during the last quarter. Finally, Zimmer Partners LP lifted its position in shares of FirstEnergy by 33.4% during the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock worth $195,672,000 after buying an additional 1,232,040 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Stock Performance

NYSE:FE traded up $0.06 on Friday, reaching $39.82. 2,417,082 shares of the company's stock were exchanged, compared to its average volume of 3,976,990. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 2.45 and a beta of 0.39. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The stock has a fifty day simple moving average of $41.29 and a 200-day simple moving average of $40.45. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $44.97.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FE. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Guggenheim raised their target price on FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, April 7th. Evercore ISI lifted their target price on FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Morgan Stanley cut their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Finally, Wells Fargo & Company raised their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, FirstEnergy presently has an average rating of "Hold" and a consensus target price of $46.00.

Insider Buying and Selling at FirstEnergy

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

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.