Oregon Public Employees Retirement Fund Increases Holdings in FirstEnergy Corp. (NYSE:FE)

Oregon Public Employees Retirement Fund raised its stake in shares of FirstEnergy Corp. (NYSE:FE) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,524 shares of the utilities provider’s stock after buying an additional 3,102 shares during the period. Oregon Public Employees Retirement Fund’s holdings in FirstEnergy were worth $2,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FE. Retirement Systems of Alabama boosted its holdings in FirstEnergy by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 235,446 shares of the utilities provider’s stock worth $10,079,000 after buying an additional 928 shares during the period. First American Trust FSB lifted its stake in FirstEnergy by 1.3% in the 2nd quarter. First American Trust FSB now owns 130,990 shares of the utilities provider’s stock worth $5,608,000 after purchasing an additional 1,699 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in FirstEnergy by 21.7% in the 2nd quarter. Foundations Investment Advisors LLC now owns 26,948 shares of the utilities provider’s stock worth $1,181,000 after purchasing an additional 4,802 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its stake in FirstEnergy by 2.2% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 15,007 shares of the utilities provider’s stock worth $642,000 after purchasing an additional 325 shares in the last quarter. Finally, Horizon Investments LLC purchased a new stake in FirstEnergy in the 1st quarter worth $1,389,000. Institutional investors and hedge funds own 93.51% of the company’s stock.

Shares of NYSE FE traded down $0.13 during mid-day trading on Friday, hitting $44.25. 9,273,295 shares of the company’s stock traded hands, compared to its average volume of 3,578,589. The business has a 50-day moving average of $43.60. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. The company has a market capitalization of $23.40 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.93 and a beta of 0.27. FirstEnergy Corp. has a 1 year low of $35.33 and a 1 year high of $44.75.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.66 billion. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. On average, equities analysts expect that FirstEnergy Corp. will post 2.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Tuesday, August 6th. FirstEnergy’s dividend payout ratio is 58.69%.

FE has been the topic of several research analyst reports. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 price target on the stock. in a research note on Tuesday, July 2nd. Morgan Stanley set a $44.00 price target on shares of FirstEnergy and gave the stock a “buy” rating in a research note on Friday, April 5th. TheStreet cut shares of FirstEnergy from a “b” rating to a “f” rating in a research note on Thursday, July 18th. Finally, KeyCorp reiterated an “overweight” rating and issued a $46.00 price target on shares of FirstEnergy in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $43.71.

In other FirstEnergy news, Director Christopher D. Pappas bought 3,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $41.14 per share, for a total transaction of $123,420.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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