Retirement Systems of Alabama grew its holdings in FirstEnergy Corp. (NYSE:FE) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,518 shares of the utilities provider’s stock after purchasing an additional 10,722 shares during the period. Retirement Systems of Alabama’s holdings in FirstEnergy were worth $9,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lake Point Wealth Management acquired a new position in FirstEnergy during the fourth quarter worth $25,000. Legacy Advisors LLC acquired a new position in FirstEnergy during the first quarter worth $33,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of FirstEnergy in the fourth quarter valued at about $34,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of FirstEnergy by 98.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 666 shares during the last quarter. Finally, Kaizen Advisory LLC grew its position in shares of FirstEnergy by 23.6% in the fourth quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 90.75% of the company’s stock.

Shares of NYSE:FE opened at $40.50 on Monday. The stock has a market capitalization of $21.52 billion, a PE ratio of 15.64 and a beta of 0.30. FirstEnergy Corp. has a 52-week low of $32.92 and a 52-week high of $42.13. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.46 and a current ratio of 0.52.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. FirstEnergy had a net margin of 10.41% and a return on equity of 21.13%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the company earned $0.71 earnings per share. On average, sell-side analysts predict that FirstEnergy Corp. will post 2.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s payout ratio is presently 58.69%.

In related news, EVP Leila L. Vespoli sold 24,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $41.33, for a total value of $1,008,452.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on FE. Morgan Stanley raised their price target on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Friday, January 11th. Bank of America raised their price target on FirstEnergy from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $46.00 in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $42.86.

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FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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