Cullen Frost Bankers Inc. Sells 71,906 Shares of FirstEnergy Corp. (FE)

Cullen Frost Bankers Inc. lowered its position in FirstEnergy Corp. (NYSE:FE) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 287,699 shares of the utilities provider’s stock after selling 71,906 shares during the quarter. Cullen Frost Bankers Inc. owned approximately 0.06% of FirstEnergy worth $10,694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FE. Reilly Financial Advisors LLC lifted its stake in FirstEnergy by 285.8% in the second quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 2,132 shares during the last quarter. Winslow Evans & Crocker Inc. purchased a new position in FirstEnergy in the third quarter worth approximately $114,000. IMA Wealth Inc. purchased a new position in FirstEnergy in the second quarter worth approximately $180,000. Piedmont Investment Advisors LLC purchased a new position in FirstEnergy in the second quarter worth approximately $189,000. Finally, BB&T Corp purchased a new stake in shares of FirstEnergy during the 3rd quarter worth approximately $208,000. Institutional investors own 94.43% of the company’s stock.

FE has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, October 10th. Wells Fargo & Co restated a “buy” rating and set a $42.00 price objective (up previously from $41.00) on shares of FirstEnergy in a research report on Monday, September 17th. Bank of America boosted their price objective on shares of FirstEnergy from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Citigroup boosted their price objective on shares of FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 3rd. Finally, ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $39.90.



Shares of NYSE:FE opened at $37.26 on Tuesday. The company has a market cap of $18.78 billion, a PE ratio of 13.11, a P/E/G ratio of 2.41 and a beta of 0.29. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 2.44. FirstEnergy Corp. has a twelve month low of $29.33 and a twelve month high of $39.01.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.82 billion. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. On average, equities research analysts forecast that FirstEnergy Corp. will post 2.54 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.44 annualized dividend and a yield of 3.86%. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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