Teacher Retirement System of Texas Sells 11,419 Shares of FirstEnergy Corporation $FE

Teacher Retirement System of Texas lessened its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,838 shares of the utilities provider’s stock after selling 11,419 shares during the quarter. Teacher Retirement System of Texas’ holdings in FirstEnergy were worth $3,292,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. American National Bank & Trust raised its holdings in shares of FirstEnergy by 380.2% in the 3rd quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 460 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of FirstEnergy during the 3rd quarter worth approximately $27,000. TruNorth Capital Management LLC grew its position in FirstEnergy by 187.5% during the third quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock worth $28,000 after buying an additional 405 shares in the last quarter. State of Wyoming acquired a new stake in shares of FirstEnergy during the 2nd quarter worth $25,000. Finally, Capital Advisors Ltd. LLC grew its stake in FirstEnergy by 186.4% during the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after buying an additional 440 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Stock Performance

FE stock opened at $47.42 on Thursday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The firm has a market cap of $27.39 billion, a PE ratio of 20.71, a P/E/G ratio of 2.71 and a beta of 0.64. The business has a 50 day moving average of $45.62 and a 200-day moving average of $44.81. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a dividend of $0.445 per share. The ex-dividend date is Friday, February 6th. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. FirstEnergy’s payout ratio is currently 77.73%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FE. Scotiabank lifted their target price on FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a report on Wednesday, January 21st. Mizuho raised their price target on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group upped their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, Citigroup assumed coverage on FirstEnergy in a research note on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.85.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.