Robeco Institutional Asset Management B.V. lowered its position in FirstEnergy Corp. (NYSE:FE) by 39.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 497,887 shares of the utilities provider’s stock after selling 331,169 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.09% of FirstEnergy worth $21,316,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Metropolitan Life Insurance Co NY lifted its position in shares of FirstEnergy by 0.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 70,842 shares of the utilities provider’s stock worth $2,947,000 after buying an additional 244 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of FirstEnergy by 0.3% in the 1st quarter. Texas Permanent School Fund now owns 97,981 shares of the utilities provider’s stock valued at $4,077,000 after acquiring an additional 254 shares during the period. Global Retirement Partners LLC increased its holdings in shares of FirstEnergy by 4.6% in the 1st quarter. Global Retirement Partners LLC now owns 6,277 shares of the utilities provider’s stock valued at $261,000 after acquiring an additional 275 shares during the period. Wedbush Securities Inc. increased its holdings in shares of FirstEnergy by 5.2% in the 1st quarter. Wedbush Securities Inc. now owns 6,269 shares of the utilities provider’s stock valued at $261,000 after acquiring an additional 312 shares during the period. Finally, Beese Fulmer Investment Management Inc. increased its holdings in shares of FirstEnergy by 2.2% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 15,007 shares of the utilities provider’s stock valued at $642,000 after acquiring an additional 325 shares during the period. Institutional investors own 93.51% of the company’s stock.
FE traded down $0.13 during trading on Friday, hitting $44.25. The stock had a trading volume of 9,273,295 shares, compared to its average volume of 3,937,322. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $23.61 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 2.96 and a beta of 0.27. The business has a 50-day moving average of $43.60. FirstEnergy Corp. has a twelve month low of $35.33 and a twelve month high of $44.75.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a $0.38 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $1.52 annualized dividend and a yield of 3.44%. FirstEnergy’s dividend payout ratio is currently 58.69%.
In other news, Director Christopher D. Pappas acquired 3,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $41.14 per share, with a total value of $123,420.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.
FE has been the topic of a number of recent research reports. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Tuesday, July 2nd. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 target price on shares of FirstEnergy in a report on Wednesday, June 5th. Finally, TheStreet cut shares of FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $43.71.
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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