FirstEnergy Corporation $FE Shares Purchased by Energy Income Partners LLC

Energy Income Partners LLC raised its position in FirstEnergy Corporation (NYSE:FE) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,900,897 shares of the utilities provider’s stock after purchasing an additional 204,138 shares during the period. FirstEnergy comprises about 1.5% of Energy Income Partners LLC’s investment portfolio, making the stock its 20th largest position. Energy Income Partners LLC’s holdings in FirstEnergy were worth $96,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of FirstEnergy by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock worth $3,049,255,000 after buying an additional 761,157 shares in the last quarter. Boston Partners raised its position in shares of FirstEnergy by 13.5% in the third quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock valued at $841,161,000 after buying an additional 2,185,400 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of FirstEnergy by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 13,463,298 shares of the utilities provider’s stock valued at $600,351,000 after buying an additional 126,834 shares during the period. Invesco Ltd. lifted its stake in shares of FirstEnergy by 0.3% during the fourth quarter. Invesco Ltd. now owns 11,722,471 shares of the utilities provider’s stock valued at $524,815,000 after buying an additional 34,014 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of FirstEnergy by 7.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider’s stock valued at $508,158,000 after buying an additional 694,449 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $55.00 target price on shares of FirstEnergy in a research note on Tuesday, April 21st. UBS Group increased their price target on FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Jefferies Financial Group raised their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. New Street Research set a $52.00 price objective on FirstEnergy in a research report on Tuesday, April 21st. Finally, Wolfe Research lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.92.

FirstEnergy Price Performance

FE opened at $49.36 on Tuesday. FirstEnergy Corporation has a 1 year low of $41.30 and a 1 year high of $52.34. The company’s 50 day simple moving average is $47.31 and its 200 day simple moving average is $48.16. The stock has a market capitalization of $28.55 billion, a PE ratio of 26.83, a P/E/G ratio of 2.39 and a beta of 0.47. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.42 and a current ratio of 0.52.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $3.80 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. FirstEnergy’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. As a group, sell-side analysts expect that FirstEnergy Corporation will post 2.73 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.465 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 annualized dividend and a dividend yield of 3.8%. FirstEnergy’s payout ratio is currently 101.09%.

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.