Bank of New York Mellon Corp Lowers Stock Position in FirstEnergy Corporation $FE

Bank of New York Mellon Corp reduced its position in shares of FirstEnergy Corporation (NYSE:FE) by 14.8% during the first quarter, Holdings Channel reports. The firm owned 3,725,176 shares of the utilities provider’s stock after selling 645,115 shares during the period. Bank of New York Mellon Corp’s holdings in FirstEnergy were worth $188,717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in FirstEnergy by 4.1% in the 4th quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 213 shares in the last quarter. Simplicity Wealth LLC lifted its position in shares of FirstEnergy by 3.4% during the 1st quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider’s stock worth $346,000 after buying an additional 223 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of FirstEnergy by 5.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider’s stock worth $209,000 after buying an additional 223 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in shares of FirstEnergy by 44.4% in the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock worth $38,000 after buying an additional 232 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of FirstEnergy by 4.8% in the fourth quarter. Signaturefd LLC now owns 5,181 shares of the utilities provider’s stock valued at $232,000 after acquiring an additional 235 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 price target on shares of FirstEnergy in a research report on Wednesday, June 24th. Jefferies Financial Group boosted their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. TD Cowen upgraded FirstEnergy from a “hold” rating to a “buy” rating and reduced their price objective for the company from $56.00 to $53.00 in a research note on Friday, May 15th. Barclays raised their target price on FirstEnergy from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Finally, UBS Group lifted their target price on FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, FirstEnergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.75.

FirstEnergy Trading Down 1.2%

NYSE:FE opened at $48.53 on Friday. FirstEnergy Corporation has a 12 month low of $40.50 and a 12 month high of $52.34. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 1.87. The firm’s 50 day moving average is $46.74 and its 200 day moving average is $47.96. The stock has a market capitalization of $28.07 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.47.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $3.80 billion. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. Sell-side analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current year.

About FirstEnergy

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.