Gulf International Bank UK Ltd Has $1.26 Million Holdings in FirstEnergy Corporation $FE

Key Points

• Gulf International Bank UK Ltd has reduced its stake in FirstEnergy Corporation by 27.0%, now owning 31,079 shares valued at approximately $1.26 million.
• FirstEnergy reported quarterly earnings of $0.52 per share, exceeding estimates, but revenue fell short of expectations at $3.40 billion.
• The company declared a quarterly dividend of $0.445 per share, with a dividend yield of 4.1% and a payout ratio of 78.76%.

Gulf International Bank UK Ltd lowered its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 27.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,079 shares of the utilities provider's stock after selling 11,495 shares during the quarter. Gulf International Bank UK Ltd's holdings in FirstEnergy were worth $1,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FE. Brighton Jones LLC acquired a new stake in FirstEnergy during the 4th quarter worth approximately $256,000. Raymond James Financial Inc. acquired a new stake in FirstEnergy during the 4th quarter worth approximately $30,069,000. Mariner LLC increased its position in FirstEnergy by 16.1% during the 4th quarter. Mariner LLC now owns 95,039 shares of the utilities provider's stock worth $3,781,000 after purchasing an additional 13,196 shares in the last quarter. Guggenheim Capital LLC increased its position in FirstEnergy by 24.2% during the 4th quarter. Guggenheim Capital LLC now owns 152,176 shares of the utilities provider's stock worth $6,054,000 after purchasing an additional 29,683 shares in the last quarter. Finally, Jump Financial LLC increased its position in FirstEnergy by 79.5% during the 4th quarter. Jump Financial LLC now owns 19,824 shares of the utilities provider's stock worth $789,000 after purchasing an additional 8,778 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

Insiders Place Their Bets

In related news, CAO Jason Lisowski sold 12,000 shares of FirstEnergy stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer owned 183 shares of the company's stock, valued at approximately $7,680.51. This trade represents a 98.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $42.00 to $45.00 in a research report on Wednesday, April 23rd. UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Mizuho increased their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Evercore ISI increased their price objective on shares of FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, FirstEnergy presently has a consensus rating of "Hold" and a consensus price target of $46.08.

FirstEnergy Stock Performance

FE stock traded up $0.1750 during mid-day trading on Wednesday, reaching $43.5950. The company had a trading volume of 1,349,182 shares, compared to its average volume of 4,899,791. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $25.17 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.63 and a beta of 0.48. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.97. The stock's 50-day simple moving average is $41.28 and its two-hundred day simple moving average is $40.97.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same period last year, the company earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Research analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 7th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. FirstEnergy's dividend payout ratio (DPR) is currently 78.76%.

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.