USS Investment Management Ltd Has $2.26 Million Position in FirstEnergy Corp. (NYSE:FE)

USS Investment Management Ltd reduced its holdings in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 49.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 56,853 shares of the utilities provider's stock after selling 55,941 shares during the period. USS Investment Management Ltd's holdings in FirstEnergy were worth $2,262,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of FirstEnergy by 69.3% during the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in FirstEnergy in the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. purchased a new stake in FirstEnergy in the fourth quarter valued at approximately $26,000. WASHINGTON TRUST Co grew its holdings in FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 586 shares during the period. Finally, Bernard Wealth Management Corp. purchased a new stake in FirstEnergy in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.41% of the company's stock.

Analysts Set New Price Targets

FE has been the subject of a number of recent analyst reports. Guggenheim boosted their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a report on Monday, April 7th. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $42.00 to $45.00 in a research report on Wednesday, April 23rd. Evercore ISI lifted their price target on shares of FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Mizuho set a $43.00 price target on shares of FirstEnergy in a research report on Monday, April 28th. Finally, Wells Fargo & Company lifted their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy has a consensus rating of "Hold" and a consensus price target of $46.00.

Insider Buying and Selling

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the company's 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 completion of the sale, the chief financial officer now directly owns 99,919 shares of the company's stock, valued at approximately $4,299,514.57. This represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company's stock.

FirstEnergy Stock Down 0.0%

FE traded down $0.01 during trading on Tuesday, hitting $42.10. The company had a trading volume of 3,535,328 shares, compared to its average volume of 3,693,166. The company has a market cap of $24.30 billion, a PE ratio of 27.16, a P/E/G ratio of 2.07 and a beta of 0.42. The business has a 50-day moving average of $41.23 and a 200-day moving average of $40.62. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a 1-year low of $37.58 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.68 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The firm's quarterly revenue was up 14.5% on a year-over-year basis. As a group, analysts forecast that FirstEnergy Corp. will post 2.66 earnings per share for the current year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Wednesday, May 7th. This is a boost from FirstEnergy's previous quarterly dividend of $0.43. FirstEnergy's dividend payout ratio (DPR) is 94.68%.

FirstEnergy Company 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.