California State Teachers Retirement System trimmed its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 768,480 shares of the utilities provider’s stock after selling 51,083 shares during the period. California State Teachers Retirement System owned about 0.17% of FirstEnergy worth $23,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in FirstEnergy by 5.8% during the 2nd quarter. Legal & General Group Plc now owns 2,719,247 shares of the utilities provider’s stock valued at $79,291,000 after buying an additional 148,705 shares in the last quarter. Comerica Bank grew its holdings in FirstEnergy by 0.7% during the 2nd quarter. Comerica Bank now owns 110,199 shares of the utilities provider’s stock valued at $3,444,000 after buying an additional 813 shares in the last quarter. BB&T Securities LLC grew its holdings in FirstEnergy by 143.2% during the 2nd quarter. BB&T Securities LLC now owns 94,459 shares of the utilities provider’s stock valued at $2,754,000 after buying an additional 55,614 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in FirstEnergy during the 2nd quarter valued at about $9,931,000. Finally, Federated Investors Inc. PA grew its holdings in FirstEnergy by 21.7% during the 2nd quarter. Federated Investors Inc. PA now owns 80,711 shares of the utilities provider’s stock valued at $2,354,000 after buying an additional 14,381 shares in the last quarter. Institutional investors own 82.32% of the company’s stock.

Shares of FirstEnergy Corp. (NYSE:FE) opened at $31.51 on Tuesday. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56. FirstEnergy Corp. has a 12-month low of $27.93 and a 12-month high of $35.22. The firm has a market capitalization of $14,157.61, a P/E ratio of 11.66 and a beta of 0.25.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.11. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. equities research analysts forecast that FirstEnergy Corp. will post 3 EPS for the current fiscal year.

A number of research firms have weighed in on FE. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Mizuho reissued a “hold” rating and set a $30.50 price objective on shares of FirstEnergy in a report on Tuesday, October 24th. Bank of America started coverage on FirstEnergy in a report on Tuesday, October 24th. They set a “neutral” rating and a $34.00 price objective for the company. KeyCorp reissued a “hold” rating on shares of FirstEnergy in a report on Friday, October 20th. Finally, Citigroup boosted their price objective on FirstEnergy from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.39.

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About FirstEnergy

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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