Wilmington Savings Fund Society FSB Sells 311 Shares of FirstEnergy Corp. (NYSE:FE)

Wilmington Savings Fund Society FSB cut its position in FirstEnergy Corp. (NYSE:FE) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,523 shares of the utilities provider’s stock after selling 311 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in FirstEnergy were worth $976,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Balanced Wealth Group LLC increased its position in FirstEnergy by 0.9% during the 3rd quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider’s stock valued at $1,186,000 after buying an additional 241 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of FirstEnergy by 1.7% during the third quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock worth $750,000 after acquiring an additional 288 shares during the last quarter. Quarry LP increased its holdings in shares of 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 acquiring an additional 320 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of FirstEnergy by 3.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 9,514 shares of the utilities provider’s stock valued at $422,000 after purchasing an additional 324 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in shares of FirstEnergy by 6.7% in the 4th quarter. Brooklyn Investment Group now owns 5,146 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 324 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Trading Down 0.9 %

FirstEnergy stock opened at $39.82 on Tuesday. The firm 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 12 month low of $36.01 and a 12 month high of $44.97. The stock’s 50 day simple moving average is $39.95 and its two-hundred day simple moving average is $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.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders 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 4.27%. FirstEnergy’s payout ratio is 109.68%.

Analyst Ratings Changes

A number of brokerages have issued reports on FE. Morgan Stanley cut 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. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 price target for the company. Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. Finally, KeyCorp decreased their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.27.

About FirstEnergy

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.