Allspring Global Investments Holdings LLC Has $508.16 Million Stake in FirstEnergy Corporation $FE

Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy Corporation (NYSE:FE) by 7.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 9,971,706 shares of the utilities provider’s stock after acquiring an additional 694,449 shares during the quarter. FirstEnergy comprises about 0.9% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 13th biggest holding. Allspring Global Investments Holdings LLC owned approximately 1.72% of FirstEnergy worth $508,158,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FE. Northwestern Mutual Wealth Management Co. grew its stake in shares of FirstEnergy by 11,305.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock worth $81,699,000 after buying an additional 1,957,673 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of FirstEnergy by 42.8% during the fourth quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock worth $3,817,000 after buying an additional 25,571 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of FirstEnergy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock valued at $3,049,255,000 after acquiring an additional 761,157 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new position in shares of FirstEnergy in the 4th quarter valued at $15,172,000. Finally, Brighton Jones LLC acquired a new stake in shares of FirstEnergy during the 4th quarter valued at $256,000. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FE. Barclays boosted their price objective on FirstEnergy from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $52.00 price target on shares of FirstEnergy in a research note on Wednesday, June 24th. Wolfe Research cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings cut FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, Jefferies Financial Group upped their price objective on FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, FirstEnergy presently has an average rating of “Moderate Buy” and a consensus price target of $52.75.

FirstEnergy Price Performance

Shares of NYSE FE opened at $49.10 on Friday. The company has a market capitalization of $28.40 billion, a PE ratio of 26.68, a P/E/G ratio of 2.33 and a beta of 0.47. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 1.87. FirstEnergy Corporation has a twelve month low of $40.17 and a twelve month high of $52.34. The firm has a fifty day simple moving average of $46.65 and a 200 day simple moving average of $47.95.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $3.80 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. On average, sell-side analysts forecast that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.