Sanibel Captiva Trust Company Inc. Has $264,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Sanibel Captiva Trust Company Inc. cut its position in FirstEnergy Corp. (NYSE:FE) by 6.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,636 shares of the utilities provider’s stock after selling 463 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in FirstEnergy were worth $264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arkadios Wealth Advisors bought a new stake in FirstEnergy during the fourth quarter worth $202,000. Brooklyn Investment Group raised its holdings in shares of FirstEnergy by 6.7% during the 4th quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider’s stock worth $205,000 after buying an additional 324 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of FirstEnergy by 5.0% during the 4th quarter. Merit Financial Group LLC now owns 29,597 shares of the utilities provider’s stock worth $1,177,000 after buying an additional 1,415 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in FirstEnergy in the fourth quarter valued at about $12,198,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in FirstEnergy by 16.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 60,042 shares of the utilities provider’s stock valued at $2,388,000 after acquiring an additional 8,446 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

NYSE:FE opened at $39.92 on Monday. The stock has a market cap of $23.01 billion, a P/E ratio of 25.76, a PEG ratio of 1.93 and a beta of 0.52. 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 $40.53 and its two-hundred day moving average price is $41.76. FirstEnergy Corp. has a twelve month low of $35.41 and a twelve month high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that FirstEnergy Corp. will post 2.67 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company 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. 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 4.26%. FirstEnergy’s payout ratio is 109.68%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, October 18th. KeyCorp cut their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned 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 $46.27.

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.