FirstEnergy Corp. (NYSE:FE) Shares Purchased by New York State Common Retirement Fund

Posted by on Apr 16th, 2023

New York State Common Retirement Fund increased its holdings in FirstEnergy Corp. (NYSE:FE – Get Rating) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 627,947 shares of the utilities provider’s stock after buying an additional 16,240 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of FirstEnergy worth $26,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in FirstEnergy in the 3rd quarter worth approximately $27,000. CI Investments Inc. increased its holdings in FirstEnergy by 940.0% in the 3rd quarter. CI Investments Inc. now owns 728 shares of the utilities provider’s stock worth $27,000 after buying an additional 658 shares during the period. SJS Investment Consulting Inc. acquired a new position in FirstEnergy in the 3rd quarter worth approximately $30,000. MUFG Americas Holdings Corp acquired a new position in FirstEnergy in the 3rd quarter worth approximately $32,000. Finally, Mach 1 Financial Group LLC purchased a new stake in FirstEnergy in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 81.80% of the company’s stock.

FirstEnergy Trading Down 0.9 %

Shares of FE stock opened at $40.84 on Friday. FirstEnergy Corp. has a fifty-two week low of $35.32 and a fifty-two week high of $48.85. The firm has a market capitalization of $23.37 billion, a P/E ratio of 57.52, a PEG ratio of 2.56 and a beta of 0.44. The stock’s fifty day moving average is $39.92 and its two-hundred day moving average is $39.85. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.50 and a current ratio of 0.61.

FirstEnergy (NYSE:FE – Get Rating) last issued its earnings results on Monday, February 13th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). FirstEnergy had a return on equity of 13.16% and a net margin of 3.26%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue was up 18.5% compared to the same quarter last year. Research analysts expect that FirstEnergy Corp. will post 2.51 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Thursday, May 4th. FirstEnergy’s dividend payout ratio (DPR) is presently 219.72%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FE. Mizuho lowered their price objective on FirstEnergy from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 28th. Bank of America increased their target price on FirstEnergy from $38.00 to $39.00 in a research report on Friday. Morgan Stanley decreased their target price on FirstEnergy from $47.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 21st. Guggenheim upgraded FirstEnergy from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $46.00 in a research report on Monday, January 23rd. Finally, JPMorgan Chase & Co. decreased their target price on FirstEnergy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.44.

About FirstEnergy

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FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate or Other.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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