Strs Ohio lowered its stake in shares of FirstEnergy Corp. (NYSE:FE – Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 58,998 shares of the utilities provider’s stock after selling 6,851 shares during the period. Strs Ohio’s holdings in FirstEnergy were worth $2,363,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of FirstEnergy by 7.0% during the first quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock valued at $3,128,322,000 after buying an additional 4,443,050 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in FirstEnergy by 41.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,698,278 shares of the utilities provider’s stock worth $826,146,000 after purchasing an additional 5,820,540 shares in the last quarter. Boston Partners raised its position in FirstEnergy by 31.9% in the fourth quarter. Boston Partners now owns 11,608,710 shares of the utilities provider’s stock worth $486,530,000 after purchasing an additional 2,807,818 shares in the last quarter. Geode Capital Management LLC raised its position in FirstEnergy by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 11,226,037 shares of the utilities provider’s stock worth $469,974,000 after purchasing an additional 173,881 shares in the last quarter. Finally, Morgan Stanley raised its position in FirstEnergy by 2.4% in the fourth quarter. Morgan Stanley now owns 7,515,260 shares of the utilities provider’s stock worth $315,190,000 after purchasing an additional 177,489 shares in the last quarter. Institutional investors and hedge funds own 85.35% of the company’s stock.
FirstEnergy Price Performance
FE opened at $39.24 on Tuesday. FirstEnergy Corp. has a one year low of $35.60 and a one year high of $43.31. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.68 and a quick ratio of 0.55. The company’s 50 day simple moving average is $38.57 and its 200-day simple moving average is $39.81. The stock has a market capitalization of $22.48 billion, a P/E ratio of 55.27, a price-to-earnings-growth ratio of 2.45 and a beta of 0.45.
Wall Street Analyst Weigh In
Several research firms recently issued reports on FE. Guggenheim dropped their price target on shares of FirstEnergy from $46.00 to $44.00 in a research report on Friday, July 7th. Mizuho dropped their price target on shares of FirstEnergy from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, March 28th. Bank of America increased their price target on shares of FirstEnergy from $38.00 to $39.00 and gave the stock an “underperform” rating in a research report on Friday, April 14th. Morgan Stanley upped their price objective on shares of FirstEnergy from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Finally, StockNews.com assumed coverage on shares of FirstEnergy in a research note on Thursday, May 18th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average price target of $42.75.
About FirstEnergy
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.
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