Kentucky Retirement Systems Insurance Trust Fund Has $658,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in shares of FirstEnergy Corp. (NYSE:FE) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,043 shares of the utilities provider’s stock after selling 1,355 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in FirstEnergy were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in FE. SG Americas Securities LLC boosted its position in shares of FirstEnergy by 317.4% during the 4th quarter. SG Americas Securities LLC now owns 38,862 shares of the utilities provider’s stock worth $1,425,000 after acquiring an additional 29,552 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in FirstEnergy by 112.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 169,546 shares of the utilities provider’s stock valued at $6,216,000 after buying an additional 89,758 shares in the last quarter. Blue Trust Inc. boosted its position in FirstEnergy by 327.3% in the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after buying an additional 792 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in FirstEnergy in the fourth quarter valued at approximately $211,000. Finally, Welch Group LLC acquired a new stake in FirstEnergy in the fourth quarter valued at approximately $235,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Ratings Changes

FE has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They set a “buy” rating and a $45.00 price target for the company. Bank of America raised their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Mizuho raised their price target on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. Morgan Stanley lowered their target price on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, Scotiabank lowered their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.55.

FirstEnergy Stock Up 1.2 %

FE traded up $0.49 during midday trading on Friday, hitting $40.94. The company had a trading volume of 2,054,194 shares, compared to its average volume of 2,303,508. FirstEnergy Corp. has a 52 week low of $32.18 and a 52 week high of $41.05. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $23.56 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.59 and a beta of 0.49. The stock’s 50 day moving average price is $39.08 and its 200 day moving average price is $38.28.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.36 billion. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. On average, research analysts anticipate that FirstEnergy Corp. will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Wednesday, August 7th. FirstEnergy’s dividend payout ratio is currently 97.70%.

FirstEnergy Profile

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.