Kentucky Retirement Systems Has $1.40 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Kentucky Retirement Systems lowered its position in shares of FirstEnergy Corp. (NYSE:FE) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,223 shares of the utilities provider’s stock after selling 485 shares during the quarter. Kentucky Retirement Systems’ holdings in FirstEnergy were worth $1,401,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Creative Planning boosted its holdings in FirstEnergy by 5.0% in the 3rd quarter. Creative Planning now owns 38,301 shares of the utilities provider’s stock valued at $1,699,000 after purchasing an additional 1,813 shares during the period. Blue Trust Inc. boosted its stake in shares of FirstEnergy by 303.6% in the third quarter. Blue Trust Inc. now owns 4,141 shares of the utilities provider’s stock valued at $184,000 after buying an additional 3,115 shares during the period. International Assets Investment Management LLC grew its position in FirstEnergy by 4,445.0% during the third quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock worth $9,732,000 after buying an additional 214,606 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in FirstEnergy by 34.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,827 shares of the utilities provider’s stock worth $1,490,000 after acquiring an additional 8,703 shares during the period. Finally, Forsta AP Fonden raised its holdings in FirstEnergy by 6.4% in the 3rd quarter. Forsta AP Fonden now owns 130,600 shares of the utilities provider’s stock valued at $5,792,000 after acquiring an additional 7,900 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

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

FirstEnergy Stock Performance

NYSE FE opened at $42.34 on Monday. The firm’s fifty day moving average price is $39.89 and its two-hundred day moving average price is $41.77. The stock has a market cap of $24.40 billion, a PE ratio of 27.32, a PEG ratio of 2.07 and a beta of 0.52. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. FirstEnergy Corp. has a fifty-two week low of $36.01 and a fifty-two week high of $44.97.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.425 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.01%. FirstEnergy’s payout ratio is presently 109.68%.

FirstEnergy Profile

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.