Blue Trust Inc. Lowers Position in FirstEnergy Corp. (NYSE:FE)

Blue Trust Inc. lessened its holdings in FirstEnergy Corp. (NYSE:FE) by 49.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,108 shares of the utilities provider’s stock after selling 2,033 shares during the quarter. Blue Trust Inc.’s holdings in FirstEnergy were worth $84,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its position in FirstEnergy by 4,571.4% during the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 640 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new stake in FirstEnergy during the fourth quarter valued at about $34,000. Quarry LP raised its position in FirstEnergy by 59.1% during the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 320 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in FirstEnergy during the fourth quarter valued at about $40,000. Finally, Glen Eagle Advisors LLC raised its position in FirstEnergy by 325.7% during the third quarter. Glen Eagle Advisors LLC now owns 1,307 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

FE has been the topic of a number of research reports. KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. 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 issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average target price of $46.27.

FirstEnergy Stock Performance

Shares of FE opened at $42.34 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The business’s 50 day moving average price is $39.89 and its 200-day moving average price is $41.77. FirstEnergy Corp. has a 52 week low of $36.01 and a 52 week high of $44.97. The stock has a market cap of $24.40 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.07 and a beta of 0.52.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.01%. FirstEnergy’s payout ratio is currently 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.