FirstEnergy Corp. (NYSE:FE) Stock Position Lessened by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. reduced its stake in shares of FirstEnergy Corp. (NYSE:FE) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,636 shares of the utilities provider’s stock after selling 463 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in FirstEnergy were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in FirstEnergy by 7.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock worth $104,057,000 after purchasing an additional 171,955 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at $12,198,000. DRW Securities LLC bought a new position in FirstEnergy during the third quarter valued at about $1,154,000. Public Sector Pension Investment Board grew its holdings in FirstEnergy by 52.7% during the second quarter. Public Sector Pension Investment Board now owns 87,811 shares of the utilities provider’s stock worth $3,361,000 after acquiring an additional 30,309 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in FirstEnergy by 16.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock worth $8,267,000 after acquiring an additional 26,874 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FE has been the topic of several recent research reports. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Jefferies Financial Group initiated coverage on FirstEnergy in a report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. Morgan Stanley decreased 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. Barclays upped their target price on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $45.00 to $50.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Stock Performance

Shares of FE opened at $39.92 on Monday. 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 Corp. has a 12 month low of $35.41 and a 12 month high of $44.97. The firm has a fifty day simple moving average of $40.53 and a 200 day simple moving average of $41.76. The stock has a market capitalization of $23.01 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.93 and a beta of 0.52.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 EPS. Research analysts forecast that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.26%. FirstEnergy’s payout ratio is 109.68%.

FirstEnergy Company 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.