Bank of Stockton Sells 300 Shares of FirstEnergy Corp. (NYSE:FE)

Bank of Stockton reduced its position in shares of FirstEnergy Corp. (NYSE:FE) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,488 shares of the utilities provider’s stock after selling 300 shares during the quarter. Bank of Stockton’s holdings in FirstEnergy were worth $298,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in FirstEnergy in the fourth quarter worth $26,000. True Wealth Design LLC lifted its position 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 buying an additional 640 shares during the last quarter. WASHINGTON TRUST Co lifted its position 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 buying an additional 586 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in FirstEnergy in the fourth quarter worth $34,000. Finally, Quarry LP lifted its position 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 buying an additional 320 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $41.37 on Friday. The firm has a market cap of $23.84 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.03 and a beta of 0.52. 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 Corp. has a 12 month low of $36.01 and a 12 month high of $44.97. The stock’s fifty day moving average price is $39.85 and its 200-day moving average price is $41.77.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a dividend of $0.425 per share. The ex-dividend date is Friday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.11%. FirstEnergy’s dividend payout ratio is currently 109.68%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FE. KeyCorp lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Wolfe Research lowered FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Scotiabank upgraded FirstEnergy from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $45.00 to $50.00 in a research note on Thursday, December 12th. Finally, Morgan Stanley reduced their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy presently 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.