Gulf International Bank UK Ltd Has $1.69 Million Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Gulf International Bank UK Ltd trimmed its stake in shares of FirstEnergy Corp. (NYSE:FE) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 42,574 shares of the utilities provider’s stock after selling 517 shares during the quarter. Gulf International Bank UK Ltd’s holdings in FirstEnergy were worth $1,693,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of FirstEnergy during the 4th quarter valued at $26,000. True Wealth Design LLC lifted its position in shares of FirstEnergy by 4,571.4% during the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 640 shares during the period. WASHINGTON TRUST Co lifted its position in shares of FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 586 shares during the period. Cedar Mountain Advisors LLC bought a new stake in shares of FirstEnergy during the 4th quarter valued at $34,000. Finally, Quarry LP lifted its position in shares of FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 320 shares during the period. 89.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FE shares. KeyCorp cut their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Wells Fargo & Company dropped their price objective on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday. Morgan Stanley dropped their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank dropped their price objective on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research report on Friday. Finally, Guggenheim dropped their price objective on FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average target price of $45.33.

FirstEnergy Price Performance

FirstEnergy stock opened at $38.79 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $22.36 billion, a PE ratio of 25.03, a P/E/G ratio of 2.07 and a beta of 0.52. FirstEnergy Corp. has a 12 month low of $36.01 and a 12 month high of $44.97. The stock has a 50-day moving average price of $40.07 and a two-hundred day moving average price of $41.74.

FirstEnergy (NYSE:FE) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. Analysts expect that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 7th were paid a $0.425 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.38%. FirstEnergy’s payout ratio is 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.