Sanibel Captiva Trust Company Inc. Sells 700 Shares of FirstEnergy Corp. (NYSE:FE)

Sanibel Captiva Trust Company Inc. decreased its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,275 shares of the utilities provider’s stock after selling 700 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in FirstEnergy were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Beacon Pointe Advisors LLC increased its stake in FirstEnergy by 1.0% in the fourth quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock valued at $1,358,000 after acquiring an additional 376 shares during the last quarter. Duality Advisers LP purchased a new stake in FirstEnergy during the fourth quarter valued at about $1,644,000. Van ECK Associates Corp boosted its position in FirstEnergy by 41.4% during the first quarter. Van ECK Associates Corp now owns 187,964 shares of the utilities provider’s stock valued at $7,259,000 after buying an additional 54,990 shares during the period. Lumbard & Kellner LLC purchased a new stake in FirstEnergy during the fourth quarter valued at about $2,418,000. Finally, Lord Abbett & CO. LLC boosted its position in FirstEnergy by 5.3% during the first quarter. Lord Abbett & CO. LLC now owns 1,335,364 shares of the utilities provider’s stock valued at $51,572,000 after buying an additional 67,469 shares during the period. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FE shares. Morgan Stanley dropped their target price on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 24th. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company increased their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. Finally, KeyCorp increased their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.18.

FirstEnergy Stock Up 0.4 %

Shares of NYSE FE traded up $0.19 on Wednesday, reaching $43.38. 373,145 shares of the company’s stock traded hands, compared to its average volume of 2,970,364. FirstEnergy Corp. has a 12 month low of $32.18 and a 12 month high of $43.65. The business’s 50 day simple moving average is $40.05 and its two-hundred day simple moving average is $38.89. The company has a market cap of $24.98 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.34 and a beta of 0.49. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, equities research analysts forecast that FirstEnergy Corp. will post 2.7 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Wednesday, August 7th. FirstEnergy’s payout ratio is 97.70%.

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.