FirstEnergy Corp. (NYSE:FE) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its holdings in shares of FirstEnergy Corp. (NYSE:FE - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 195,260 shares of the utilities provider's stock after selling 8,831 shares during the period. State of Tennessee Department of Treasury's holdings in FirstEnergy were worth $7,767,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FE. Vanguard Group Inc. lifted its holdings in shares of FirstEnergy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 65,843,901 shares of the utilities provider's stock valued at $2,619,270,000 after purchasing an additional 508,570 shares during the last quarter. Boston Partners grew its stake in shares of 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 acquiring an additional 6,991,866 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of FirstEnergy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 12,527,440 shares of the utilities provider's stock valued at $497,009,000 after acquiring an additional 329,049 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of FirstEnergy by 2.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider's stock valued at $371,911,000 after purchasing an additional 220,433 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in FirstEnergy by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider's stock worth $153,081,000 after purchasing an additional 34,151 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FE has been the subject of a number of research analyst reports. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. UBS Group lifted their price target on FirstEnergy from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Evercore ISI increased their price objective on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a report on Monday. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a report on Friday. Finally, Wells Fargo & Company increased their price target 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. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Stock Performance

FE traded down $0.43 on Wednesday, reaching $42.64. The stock had a trading volume of 1,434,203 shares, compared to its average volume of 5,394,298. The business's 50-day moving average price is $40.28 and its two-hundred day moving average price is $40.69. The company has a market cap of $24.59 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. FirstEnergy Corp. has a 12-month low of $37.58 and a 12-month high of $44.97. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58.

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

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.445 per share. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.17%. 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.