FirstEnergy Corporation $FE Shares Bought by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. lifted its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 235.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,773 shares of the utilities provider’s stock after acquiring an additional 55,272 shares during the quarter. Daiichi Life Insurance Co. Ltd.’s holdings in FirstEnergy were worth $3,745,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised 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 in the last quarter. Vanguard Group Inc. grew its stake in FirstEnergy by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock worth $3,049,255,000 after purchasing an additional 761,157 shares in the last quarter. Intech Investment Management LLC grew its stake in FirstEnergy by 42.8% in the fourth quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock worth $3,817,000 after purchasing an additional 25,571 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in FirstEnergy by 6,066.6% in the second quarter. Assenagon Asset Management S.A. now owns 495,299 shares of the utilities provider’s stock valued at $23,547,000 after buying an additional 487,267 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. bought a new stake in FirstEnergy in the fourth quarter valued at about $15,172,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of NYSE FE opened at $45.99 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88. The firm’s 50-day moving average price is $47.92 and its two-hundred day moving average price is $48.31. FirstEnergy Corporation has a 52-week low of $42.87 and a 52-week high of $52.34. The stock has a market capitalization of $26.61 billion, a P/E ratio of 24.46, a P/E/G ratio of 2.20 and a beta of 0.46.

FirstEnergy (NYSE:FE) last issued 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 period in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts forecast that FirstEnergy Corporation will post 2.74 earnings per share for the current year.

FirstEnergy Dividend Announcement

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 given a dividend of $0.465 per share. The ex-dividend date is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a yield of 4.0%. FirstEnergy’s payout ratio is currently 98.94%.

Analysts Set New Price Targets

Several analysts have issued reports on FE shares. UBS Group upped their price objective on FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Barclays lowered their price target on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Wolfe Research cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. TD Cowen raised shares of FirstEnergy from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $56.00 to $53.00 in a report on Friday, May 15th. Finally, Morgan Stanley decreased their price objective on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

FirstEnergy 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.