New Mexico Educational Retirement Board cut its stake in shares of FirstEnergy Corporation (NYSE:FE) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,240 shares of the utilities provider’s stock after selling 3,600 shares during the period. New Mexico Educational Retirement Board’s holdings in FirstEnergy Corporation were worth $1,316,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares in the last quarter. Bank of New York Mellon Corp increased its position in FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock valued at $343,698,000 after buying an additional 5,141,450 shares in the last quarter. Vanguard Group Inc. increased its position in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares in the last quarter. Prudential Financial Inc. increased its position in FirstEnergy Corporation by 73.2% in the first quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock valued at $162,172,000 after buying an additional 2,154,657 shares in the last quarter. Finally, Bank of America Corp DE increased its position in FirstEnergy Corporation by 54.8% in the first quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock valued at $140,747,000 after buying an additional 1,566,627 shares in the last quarter. 78.11% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Corporation (NYSE:FE) opened at 32.17 on Friday. The stock’s market capitalization is $14.29 billion. The stock’s 50 day moving average price is $30.62 and its 200-day moving average price is $30.36. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $34.96.

FirstEnergy Corporation (NYSE:FE) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. Analysts expect that FirstEnergy Corporation will post $2.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio is currently -12.31%.

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Several research analysts recently commented on FE shares. J P Morgan Chase & Co downgraded FirstEnergy Corporation from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $32.00 in a research note on Monday, May 1st. Mizuho reissued a “neutral” rating and issued a $31.25 price objective on shares of FirstEnergy Corporation in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) downgraded FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a research note on Monday, June 26th. Barclays PLC raised FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $38.00 to $36.00 in a research note on Monday, May 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy Corporation in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. FirstEnergy Corporation has a consensus rating of “Hold” and a consensus target price of $33.71.

FirstEnergy Corporation Company Profile

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.

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Institutional Ownership by Quarter for FirstEnergy Corporation (NYSE:FE)

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