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

Gulf International Bank UK Ltd trimmed its position in FirstEnergy Corp. (NYSE:FE) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Wedge Capital Management L L P NC acquired a new stake in FirstEnergy in the fourth quarter worth about $12,198,000. Allspring Global Investments Holdings LLC grew its position in shares of FirstEnergy by 2.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,318,905 shares of the utilities provider’s stock worth $371,911,000 after buying an additional 220,433 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of FirstEnergy by 7.9% during the 3rd 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 buying an additional 171,955 shares during the period. Van ECK Associates Corp grew its position in shares of FirstEnergy by 95.3% during the 4th quarter. Van ECK Associates Corp now owns 323,079 shares of the utilities provider’s stock worth $12,852,000 after buying an additional 157,666 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of FirstEnergy by 177.6% during the 4th quarter. CIBC Asset Management Inc now owns 212,358 shares of the utilities provider’s stock worth $8,448,000 after buying an additional 135,870 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.6 %

FE 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 firm has a market capitalization of $22.36 billion, a PE ratio of 25.03, a PEG ratio of 2.07 and a beta of 0.52. FirstEnergy Corp. has a 1-year low of $36.01 and a 1-year high of $44.97. The business’s 50 day simple moving average is $40.07 and its 200 day simple moving average is $41.74.

FirstEnergy (NYSE:FE) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. As a group, research analysts anticipate that FirstEnergy Corp. will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 7th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Friday, February 7th. FirstEnergy’s dividend payout ratio is 109.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FE shares. Scotiabank decreased their target price on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research report on Friday. KeyCorp decreased 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. Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their target price on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Morgan Stanley decreased their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.33.

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.