Y Intercept Hong Kong Ltd Grows Stock Position in FirstEnergy Corporation $FE

Y Intercept Hong Kong Ltd raised its position in FirstEnergy Corporation (NYSE:FE) by 1,797.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,211 shares of the utilities provider’s stock after acquiring an additional 201,025 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in FirstEnergy were worth $8,544,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its position in shares of FirstEnergy by 1.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after purchasing an additional 1,349 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in FirstEnergy by 14.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider’s stock worth $2,883,000 after buying an additional 8,879 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in FirstEnergy by 9.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider’s stock worth $718,000 after buying an additional 1,464 shares during the last quarter. Brighton Jones LLC purchased a new stake in FirstEnergy during the 4th quarter worth about $256,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in FirstEnergy by 0.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,664,698 shares of the utilities provider’s stock worth $107,707,000 after buying an additional 21,177 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.6%

FE stock opened at $46.80 on Monday. The company has a fifty day moving average price of $44.80 and a 200 day moving average price of $42.66. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $48.20. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.85 and a beta of 0.52.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.20%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The business’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. Sell-side analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FE shares. Citigroup started coverage on FirstEnergy in a research note on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price for the company. Morgan Stanley boosted their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Mizuho boosted their price target on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday. UBS Group boosted their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $43.00 to $49.00 in a research report on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, FirstEnergy has an average rating of “Hold” and an average price target of $48.25.

About FirstEnergy

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.