South Dakota Investment Council trimmed its position in shares of FirstEnergy Corp. (NYSE:FE) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,798 shares of the utilities provider’s stock after selling 3,402 shares during the quarter. South Dakota Investment Council’s holdings in FirstEnergy were worth $2,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ increased its stake in FirstEnergy by 0.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 63,655 shares of the utilities provider’s stock worth $2,725,000 after acquiring an additional 228 shares during the last quarter. AGF Investments LLC raised its holdings in FirstEnergy by 26.3% in the second quarter. AGF Investments LLC now owns 1,144 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 238 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its stake in FirstEnergy by 0.3% in the first quarter. Metropolitan Life Insurance Co NY now owns 70,842 shares of the utilities provider’s stock worth $2,947,000 after acquiring an additional 244 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of FirstEnergy by 4.6% in the 1st quarter. Global Retirement Partners LLC now owns 6,277 shares of the utilities provider’s stock valued at $261,000 after purchasing an additional 275 shares during the last quarter. Finally, Chemical Bank increased its position in shares of FirstEnergy by 3.2% in the 2nd quarter. Chemical Bank now owns 10,228 shares of the utilities provider’s stock valued at $438,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 94.32% of the company’s stock.

Shares of NYSE:FE traded up $0.70 during trading on Wednesday, hitting $47.44. 110,790 shares of the company were exchanged, compared to its average volume of 3,657,936. The stock has a market capitalization of $25.20 billion, a P/E ratio of 18.31, a PEG ratio of 3.13 and a beta of 0.21. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. FirstEnergy Corp. has a 12-month low of $35.33 and a 12-month high of $47.05. The firm’s 50 day moving average price is $44.91 and its 200-day moving average price is $42.76.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, equities research analysts anticipate that FirstEnergy Corp. will post 2.5 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.20%. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.

Several equities research analysts have recently issued reports on FE shares. Mizuho decreased their price objective on shares of FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Zacks Investment Research lowered FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Tuesday, July 2nd. KeyCorp restated an “overweight” rating and issued a $46.00 price target on shares of FirstEnergy in a research note on Wednesday, June 5th. Finally, TheStreet downgraded FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $44.00.

FirstEnergy 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.

Read More: What type of investment options does a Roth IRA provide?

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corp. (NYSE:FE).

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.