FirstEnergy Corporation $FE Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 61.9% during the 1st quarter, HoldingsChannel reports. The firm owned 55,978 shares of the utilities provider’s stock after purchasing an additional 21,403 shares during the period. Janus Henderson Group PLC’s holdings in FirstEnergy were worth $2,837,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Eurizon Capital SGR S.p.A. acquired a new stake in shares of FirstEnergy during the fourth quarter worth about $123,018,000. BROOKFIELD Corp ON purchased a new stake in FirstEnergy during the 4th quarter valued at approximately $110,332,000. Boston Partners lifted its position in FirstEnergy by 13.5% during the 3rd quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock worth $841,161,000 after acquiring an additional 2,185,400 shares during the period. Victory Capital Management Inc. lifted its position in FirstEnergy by 56.0% during the 4th quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider’s stock worth $246,515,000 after acquiring an additional 1,977,504 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of FirstEnergy by 11,305.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock valued at $81,699,000 after purchasing an additional 1,957,673 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Trading Up 0.3%

NYSE:FE opened at $47.50 on Friday. The stock has a fifty day moving average price of $47.72 and a two-hundred day moving average price of $48.32. The stock has a market capitalization of $27.48 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. FirstEnergy Corporation has a 1 year low of $42.72 and a 1 year high of $52.34.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.51 billion. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.During the same quarter last year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a dividend of $0.465 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. FirstEnergy’s payout ratio is currently 98.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and dropped their target price for the company from $56.00 to $53.00 in a report on Friday, May 15th. Jefferies Financial Group lifted their price objective on shares of FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings downgraded shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, July 22nd. Finally, Wolfe Research downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Company Profile

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.