New York State Common Retirement Fund Has $13.99 Million Position in FirstEnergy Corporation $FE

New York State Common Retirement Fund grew its position in FirstEnergy Corporation (NYSE:FE) by 7.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 305,401 shares of the utilities provider’s stock after purchasing an additional 22,000 shares during the quarter. New York State Common Retirement Fund’s holdings in FirstEnergy were worth $13,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank & Trust raised its stake in FirstEnergy by 380.2% during the 3rd quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock worth $27,000 after buying an additional 460 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of FirstEnergy in the third quarter worth about $27,000. TruNorth Capital Management LLC raised its position in shares of FirstEnergy by 187.5% during the third quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 405 shares during the period. State of Wyoming bought a new position in shares of FirstEnergy during the 2nd quarter valued at about $25,000. Finally, Capital Advisors Ltd. LLC grew its position 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 valued at $27,000 after purchasing an additional 440 shares during the period. 89.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on FE. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a report on Wednesday, January 21st. Scotiabank increased their price objective on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. Mizuho boosted their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. UBS Group lowered their target price on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Finally, KeyCorp downgraded FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, FirstEnergy currently has an average rating of “Moderate Buy” and a consensus price target of $48.85.

FirstEnergy Stock Down 0.7%

FirstEnergy stock opened at $47.03 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $48.20. The company has a fifty day simple moving average of $45.64 and a 200 day simple moving average of $44.98. The company has a market cap of $27.16 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a $0.445 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.8%. FirstEnergy’s payout ratio is currently 77.73%.

FirstEnergy Company Profile

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.