FirstEnergy Corp. (NYSE:FE) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB trimmed its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,523 shares of the utilities provider’s stock after selling 311 shares during the period. Wilmington Savings Fund Society FSB’s holdings in FirstEnergy were worth $976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FE. Assenagon Asset Management S.A. raised its holdings in shares of FirstEnergy by 1,417.3% during the third quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock valued at $32,965,000 after acquiring an additional 694,313 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of FirstEnergy by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock worth $403,517,000 after purchasing an additional 457,231 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in FirstEnergy in the 4th quarter valued at $12,198,000. International Assets Investment Management LLC lifted its holdings in FirstEnergy by 4,445.0% in the 3rd quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after purchasing an additional 214,606 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 purchasing an additional 171,955 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FE shares. JPMorgan Chase & Co. raised their price target on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group started coverage on FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 target price on the stock. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $45.00 to $50.00 in a report on Thursday, December 12th. Morgan Stanley lowered their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, KeyCorp cut their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.27.

FirstEnergy Stock Performance

NYSE FE opened at $39.82 on Tuesday. The stock has a fifty day simple moving average of $39.95 and a 200-day simple moving average of $41.85. 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 stock has a market cap of $22.95 billion, a PE ratio of 25.69, a P/E/G ratio of 2.01 and a beta of 0.52. FirstEnergy Corp. has a twelve month low of $36.01 and a twelve month high of $44.97.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s dividend payout ratio is presently 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.