Teacher Retirement System of Texas Sells 11,419 Shares of FirstEnergy Corporation $FE

Teacher Retirement System of Texas reduced its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 13.7% during the third quarter, HoldingsChannel reports. The firm owned 71,838 shares of the utilities provider’s stock after selling 11,419 shares during the period. Teacher Retirement System of Texas’ holdings in FirstEnergy were worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FE. State of Wyoming bought a new position in shares of FirstEnergy during the 2nd quarter valued at $25,000. Capital Advisors Ltd. LLC increased its stake in shares of FirstEnergy by 186.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 440 shares in the last quarter. American National Bank & Trust increased its position in FirstEnergy by 380.2% in the third quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock worth $27,000 after buying an additional 460 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of FirstEnergy in the third quarter worth $27,000. Finally, TruNorth Capital Management LLC increased its stake in FirstEnergy by 187.5% in the 3rd quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock worth $28,000 after buying an additional 405 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of NYSE FE opened at $47.42 on Thursday. The company has a market cap of $27.39 billion, a PE ratio of 20.71, a P/E/G ratio of 2.71 and a beta of 0.64. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75. The business has a 50-day simple moving average of $45.62 and a two-hundred day simple moving average of $44.81.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, February 6th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.8%. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Wall Street Analysts Forecast Growth

FE has been the topic of several research analyst reports. Wolfe Research upgraded shares of FirstEnergy from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of FirstEnergy from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Barclays dropped their price objective on FirstEnergy from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of FirstEnergy in a research report on Monday, December 29th. Finally, Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, January 21st. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, FirstEnergy has an average rating of “Moderate Buy” and an average target price of $48.85.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid?Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.