Bank of Stockton Cuts Stock Position in FirstEnergy Corp. (NYSE:FE)

Bank of Stockton lessened its stake in FirstEnergy Corp. (NYSE:FE) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,488 shares of the utilities provider’s stock after selling 300 shares during the period. Bank of Stockton’s holdings in FirstEnergy were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in FirstEnergy in the fourth quarter valued at about $26,000. True Wealth Design LLC boosted its holdings in FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 640 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 586 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in FirstEnergy in the fourth quarter worth about $34,000. Finally, Quarry LP boosted its holdings in FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the subject of several recent analyst reports. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. Morgan Stanley lowered their price target on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, FirstEnergy presently has an average rating of “Hold” and a consensus price target of $46.27.

FirstEnergy Trading Up 1.7 %

FE opened at $41.37 on Friday. FirstEnergy Corp. has a one year low of $36.01 and a one year high of $44.97. The company has a market cap of $23.84 billion, a P/E ratio of 26.69, a PEG ratio of 2.03 and a beta of 0.52. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The business’s 50-day simple moving average is $39.85 and its 200-day simple moving average is $41.77.

FirstEnergy Dividend Announcement

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 issued 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 4.11%. FirstEnergy’s payout ratio is currently 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.