Concurrent Investment Advisors LLC Increases Holdings in FirstEnergy Corporation $FE

Concurrent Investment Advisors LLC boosted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 9.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,884 shares of the utilities provider’s stock after buying an additional 761 shares during the period. Concurrent Investment Advisors LLC’s holdings in FirstEnergy were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FE. Vanguard Group Inc. boosted its position in shares of FirstEnergy by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock valued at $2,673,792,000 after acquiring an additional 306,313 shares during the last quarter. Boston Partners raised its stake in FirstEnergy by 14.9% during the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock worth $767,952,000 after purchasing an additional 2,459,779 shares during the period. Royal Bank of Canada boosted its holdings in FirstEnergy by 2.9% in the 1st quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock valued at $165,674,000 after purchasing an additional 116,825 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of FirstEnergy by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,430,753 shares of the utilities provider’s stock valued at $138,671,000 after buying an additional 28,683 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of FirstEnergy by 0.8% in 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 valued at $107,707,000 after buying an additional 21,177 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $49.00 in a research 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 lowered FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Finally, Scotiabank reissued an “outperform” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, FirstEnergy currently has an average rating of “Moderate Buy” and an average target price of $46.91.

FirstEnergy Price Performance

FE opened at $47.00 on Friday. The stock’s 50-day moving average price is $44.46 and its 200 day moving average price is $42.36. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $47.99. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 3.18 and a beta of 0.52. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.45 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, sell-side analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.445 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. FirstEnergy’s payout ratio is 78.76%.

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.