FirstEnergy Corporation $FE Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its position in FirstEnergy Corporation (NYSE:FE) by 1,379.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,945 shares of the utilities provider’s stock after buying an additional 107,176 shares during the period. Edgestream Partners L.P.’s holdings in FirstEnergy were worth $4,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Partners grew its stake in shares of FirstEnergy by 14.9% in the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock worth $767,952,000 after purchasing an additional 2,459,779 shares during the last quarter. Vanguard Group Inc. boosted its holdings in FirstEnergy by 1.3% during the second quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider’s stock worth $2,696,940,000 after buying an additional 837,872 shares in the last quarter. Envestnet Asset Management Inc. grew its position in FirstEnergy by 82.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,326,830 shares of the utilities provider’s stock worth $53,418,000 after buying an additional 598,732 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of FirstEnergy by 59.4% in the first quarter. Raymond James Financial Inc. now owns 1,205,121 shares of the utilities provider’s stock valued at $48,711,000 after buying an additional 449,234 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of FirstEnergy by 8.6% in the second quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock valued at $189,830,000 after buying an additional 374,053 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Trading Down 1.6%

Shares of NYSE FE opened at $45.69 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $48.20. The business has a 50-day moving average price of $46.37 and a two-hundred day moving average price of $43.49. The firm has a market capitalization of $26.39 billion, a PE ratio of 19.95, a PEG ratio of 2.83 and a beta of 0.66.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, November 7th. FirstEnergy’s payout ratio is currently 77.73%.

Analysts Set New Price Targets

FE has been the topic of a number of recent research reports. Mizuho lifted their target price on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Citigroup initiated coverage on FirstEnergy in a report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price objective on the stock. Morgan Stanley raised their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, FirstEnergy presently has an average rating of “Moderate Buy” and a consensus target price of $49.08.

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.