Strs Ohio boosted its position in FirstEnergy Corporation (NYSE:FE) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 48,365 shares of the utilities provider’s stock after buying an additional 4,911 shares during the period. Strs Ohio’s holdings in FirstEnergy Corporation were worth $1,410,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in FE. BlackRock Inc. boosted its stake in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock valued at $343,698,000 after buying an additional 5,141,450 shares during the last quarter. Vanguard Group Inc. boosted its stake in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares during the last quarter. Prudential Financial Inc. boosted its stake in FirstEnergy Corporation by 73.2% in the first quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock valued at $162,172,000 after buying an additional 2,154,657 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in FirstEnergy Corporation by 54.8% in the first quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock valued at $140,747,000 after buying an additional 1,566,627 shares during the last quarter. Institutional investors own 78.11% of the company’s stock.

FirstEnergy Corporation (FE) opened at 32.17 on Friday. FirstEnergy Corporation has a 1-year low of $27.93 and a 1-year high of $34.96. The stock’s market capitalization is $14.29 billion. The firm’s 50-day moving average is $30.62 and its 200 day moving average is $30.36.

FirstEnergy Corporation (NYSE:FE) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company earned $0.56 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts anticipate that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.

TRADEMARK VIOLATION WARNING: “FirstEnergy Corporation (FE) Stake Increased by Strs Ohio” was published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/13/firstenergy-corporation-fe-stake-increased-by-strs-ohio.html.

Several research firms have recently issued reports on FE. Jefferies Group LLC reduced their price objective on shares of FirstEnergy Corporation from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, May 1st. Zacks Investment Research upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, June 22nd. Citigroup Inc. reduced their price objective on shares of FirstEnergy Corporation from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 19th. BidaskClub upgraded shares of FirstEnergy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $34.00 price objective (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.71.

FirstEnergy Corporation Company Profile

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corporation (NYSE:FE).

Institutional Ownership by Quarter for FirstEnergy Corporation (NYSE:FE)

Receive News & Ratings for FirstEnergy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.