Louisiana State Employees Retirement System grew its stake in shares of FirstEnergy Corp. (NYSE:FE) by 7.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 28,400 shares of the utilities provider’s stock after purchasing an additional 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in FirstEnergy were worth $1,056,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of FE. Nisa Investment Advisors LLC grew its position in FirstEnergy by 71.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 70,526 shares of the utilities provider’s stock worth $2,621,000 after purchasing an additional 29,290 shares during the period. Andra AP fonden grew its position in FirstEnergy by 2.7% in the 3rd quarter. Andra AP fonden now owns 231,600 shares of the utilities provider’s stock worth $8,609,000 after purchasing an additional 6,000 shares during the period. Winslow Evans & Crocker Inc. bought a new stake in FirstEnergy in the 3rd quarter worth approximately $114,000. Bank of Montreal Can boosted its stake in shares of FirstEnergy by 9.8% during the 3rd quarter. Bank of Montreal Can now owns 705,256 shares of the utilities provider’s stock worth $26,215,000 after acquiring an additional 63,208 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in shares of FirstEnergy by 5.3% during the 3rd quarter. World Asset Management Inc now owns 31,834 shares of the utilities provider’s stock worth $1,183,000 after acquiring an additional 1,616 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Several analysts have commented on the stock. Bank of America boosted their price target on shares of FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Zacks Investment Research cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Citigroup boosted their price target on shares of FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Howard Weil assumed coverage on shares of FirstEnergy in a research note on Tuesday, July 24th. They issued a “sector outperform” rating and a $39.00 price target on the stock. Finally, Morgan Stanley boosted their target price on shares of FirstEnergy from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, July 16th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $39.90.

Shares of FirstEnergy stock traded up $0.30 during trading hours on Friday, reaching $38.00. The company’s stock had a trading volume of 3,639,655 shares, compared to its average volume of 4,100,735. FirstEnergy Corp. has a one year low of $29.33 and a one year high of $39.01. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 2.44. The company has a market cap of $19.31 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.48 and a beta of 0.24.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.71 by $0.09. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.82 billion. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. As a group, sell-side analysts expect that FirstEnergy Corp. will post 2.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be given a $0.36 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.44 annualized dividend and a yield of 3.79%. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.

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About FirstEnergy

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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