New York State Common Retirement Fund Has $10.90 Million Stake in FirstEnergy Corp. (NYSE:FE)

New York State Common Retirement Fund lowered its holdings in FirstEnergy Corp. (NYSE:FE) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 273,901 shares of the utilities provider’s stock after selling 19,500 shares during the quarter. New York State Common Retirement Fund’s holdings in FirstEnergy were worth $10,896,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Kestra Investment Management LLC bought a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $26,000. True Wealth Design LLC lifted its holdings in FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares in the last quarter. WASHINGTON TRUST Co boosted its position in FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after buying an additional 586 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy during the fourth quarter worth $34,000. Finally, Quarry LP raised its position in shares of FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 1.4 %

NYSE:FE opened at $42.87 on Tuesday. FirstEnergy Corp. has a 1 year low of $36.01 and a 1 year high of $44.97. The stock has a 50-day moving average price of $39.95 and a two-hundred day moving average price of $41.77. The stock has a market cap of $24.70 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.07 and a beta of 0.52. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a $0.425 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 3.97%. FirstEnergy’s dividend payout ratio is presently 109.68%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FE shares. KeyCorp lowered their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Morgan Stanley cut their price objective on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank raised shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. Finally, Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.27.

About FirstEnergy

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.