iA Global Asset Management Inc. Invests $2.37 Million in FirstEnergy Corporation $FE

iA Global Asset Management Inc. acquired a new stake in shares of FirstEnergy Corporation (NYSE:FE) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 46,783 shares of the utilities provider’s stock, valued at approximately $2,370,000.

Several other institutional investors also recently bought and sold shares of the business. Impact Partnership Wealth LLC bought a new position in shares of FirstEnergy in the 1st quarter worth $327,000. Intrua Financial LLC boosted its position in FirstEnergy by 10.3% during the first quarter. Intrua Financial LLC now owns 5,927 shares of the utilities provider’s stock valued at $300,000 after purchasing an additional 554 shares in the last quarter. Simmons Bank purchased a new position in FirstEnergy in the first quarter valued at about $225,000. Pinnacle Bancorp Inc. grew its stake in FirstEnergy by 44.4% in the first quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 232 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in FirstEnergy by 21.9% in the first quarter. Janney Montgomery Scott LLC now owns 169,516 shares of the utilities provider’s stock worth $8,588,000 after purchasing an additional 30,482 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 3.0%

NYSE:FE opened at $48.48 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 1.87. FirstEnergy Corporation has a twelve month low of $39.34 and a twelve month high of $52.34. The company has a market cap of $28.04 billion, a PE ratio of 26.35, a P/E/G ratio of 2.26 and a beta of 0.47. The company’s 50 day moving average is $46.57 and its two-hundred day moving average is $47.68.

FirstEnergy (NYSE:FE) last posted its quarterly 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 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% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. Analysts anticipate that FirstEnergy Corporation will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings lowered shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. New Street Research set a $52.00 target price on shares of FirstEnergy in a research report on Tuesday, April 21st. Barclays raised their target price on shares of FirstEnergy from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. TD Cowen raised shares of FirstEnergy from a “hold” rating to a “buy” rating and cut their price target for the stock from $56.00 to $53.00 in a report on Friday, May 15th. Finally, Jefferies Financial Group increased their price objective on FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.23.

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.