Cullen Frost Bankers Inc. Has $666,000 Stock Holdings in FirstEnergy Corp. (NYSE:FE)

Cullen Frost Bankers Inc. cut its holdings in shares of FirstEnergy Corp. (NYSE:FE) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,155 shares of the utilities provider’s stock after selling 1,540 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in FirstEnergy were worth $666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. FMR LLC increased its stake in shares of FirstEnergy by 31.1% in the 3rd quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock valued at $540,996,000 after purchasing an additional 3,756,228 shares during the last quarter. Invesco Ltd. raised its stake in FirstEnergy by 3.1% during the third quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock worth $463,950,000 after acquiring an additional 407,350 shares in the last quarter. Hudson Bay Capital Management LP lifted its holdings in shares of FirstEnergy by 447.1% in the third quarter. Hudson Bay Capital Management LP now owns 372,000 shares of the utilities provider’s stock worth $12,715,000 after acquiring an additional 304,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of FirstEnergy by 3.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,848,344 shares of the utilities provider’s stock valued at $324,380,000 after purchasing an additional 272,478 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in FirstEnergy by 27.3% in the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock valued at $34,810,000 after purchasing an additional 218,439 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.9 %

Shares of NYSE:FE opened at $39.84 on Friday. The business’s 50-day moving average is $38.12 and its 200-day moving average is $37.32. FirstEnergy Corp. has a 1 year low of $32.18 and a 1 year high of $40.42. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of 22.90 and a beta of 0.48. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts predict that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Monday, May 6th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio (DPR) is 97.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group started coverage on FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target for the company. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Scotiabank reduced their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Bank of America lifted their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.80.

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.