Retirement Systems of Alabama Has $4.46 Million Stock Position in FirstEnergy Corporation (NYSE:FE)

Retirement Systems of Alabama lowered its stake in shares of FirstEnergy Corporation (NYSE:FEFree Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,220 shares of the utilities provider’s stock after selling 833 shares during the period. Retirement Systems of Alabama’s holdings in FirstEnergy were worth $4,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd raised its holdings in shares of FirstEnergy by 69.3% in the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 255 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of FirstEnergy in the 4th quarter worth about $26,000. Bernard Wealth Management Corp. acquired a new stake in shares of FirstEnergy in the 4th quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of FirstEnergy in the 4th quarter worth about $33,000. Finally, Versant Capital Management Inc raised its holdings in shares of FirstEnergy by 179.8% in the 1st quarter. Versant Capital Management Inc now owns 1,192 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 766 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Insider Activity

In other news, CAO Jason Lisowski sold 12,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total transaction of $503,640.00. Following the completion of the transaction, the chief accounting officer now directly owns 183 shares in the company, valued at $7,680.51. The trade was a 98.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

FirstEnergy Stock Up 0.5%

FirstEnergy stock opened at $40.51 on Wednesday. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.97. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.48 and a beta of 0.40. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. The firm has a 50 day simple moving average of $41.62 and a 200 day simple moving average of $40.46.

FirstEnergy (NYSE:FEGet Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the business earned $0.55 EPS. FirstEnergy’s revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on FE. Evercore ISI upped their target price on shares of FirstEnergy from $41.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Bank of America upgraded shares of FirstEnergy from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Mizuho set a $43.00 price objective on shares of FirstEnergy in a research note on Monday, April 28th. Wells Fargo & Company increased their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Finally, Morgan Stanley decreased their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.00.

Get Our Latest Stock Analysis on FirstEnergy

FirstEnergy Company Profile

(Free Report)

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

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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