FirstEnergy Corporation $FE Holdings Cut by Ascent Group LLC

Ascent Group LLC lowered its holdings in FirstEnergy Corporation (NYSE:FE) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,993 shares of the utilities provider’s stock after selling 8,847 shares during the period. Ascent Group LLC’s holdings in FirstEnergy were worth $3,422,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Boston Partners increased its stake in shares of FirstEnergy by 14.9% during the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock valued at $767,952,000 after acquiring an additional 2,459,779 shares during the period. Federated Hermes Inc. boosted its stake in shares of FirstEnergy by 133,614.8% during the 1st quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider’s stock valued at $93,394,000 after buying an additional 2,308,864 shares during the period. Wealthquest Corp bought a new position in shares of FirstEnergy during the 1st quarter valued at $53,169,000. OLD Republic International Corp bought a new position in FirstEnergy in the 1st quarter worth $21,079,000. Finally, Raymond James Financial Inc. raised its holdings in FirstEnergy by 59.4% in the 1st quarter. Raymond James Financial Inc. now owns 1,205,121 shares of the utilities provider’s stock worth $48,711,000 after acquiring an additional 449,234 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a report on Saturday, September 27th. Morgan Stanley reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 target price (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Mizuho upped their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, UBS Group set a $44.00 target price on shares of FirstEnergy and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Trading Up 1.0%

Shares of FirstEnergy stock opened at $45.92 on Friday. The firm’s 50-day moving average price is $43.65 and its two-hundred day moving average price is $41.86. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $46.27. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $26.52 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.82 and a beta of 0.52.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the company posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a yield of 3.9%. FirstEnergy’s dividend payout ratio (DPR) is presently 78.76%.

FirstEnergy Company 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.