FirstEnergy Corporation $FE Stake Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in FirstEnergy Corporation (NYSE:FE) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,286,247 shares of the utilities provider’s stock after selling 12,891 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of FirstEnergy worth $51,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. purchased a new position in FirstEnergy in the 2nd quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in FirstEnergy in the 2nd quarter worth about $26,000. N.E.W. Advisory Services LLC purchased a new position in FirstEnergy in the 1st quarter worth about $27,000. Capital Advisors Ltd. LLC increased its stake in FirstEnergy by 186.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 440 shares in the last quarter. Finally, TruNorth Capital Management LLC increased its stake in FirstEnergy by 226.9% in the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 490 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FE shares. Mizuho upped their target price on FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $43.00 to $49.00 in a report on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Finally, Scotiabank boosted their price target on FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Stock Down 0.5%

FE opened at $46.43 on Tuesday. The business has a 50 day moving average price of $44.88 and a 200 day moving average price of $42.71. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $48.20. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The firm has a market cap of $26.81 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 2.85 and a beta of 0.52.

FirstEnergy (NYSE:FE) last posted its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. FirstEnergy had a return on equity of 11.20% and a net margin of 9.19%.The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the company earned $0.85 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Research analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.8%. FirstEnergy’s payout ratio is 77.73%.

FirstEnergy 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.