Mackenzie Financial Corp Has $10.88 Million Stock Holdings in FirstEnergy Corporation $FE

Mackenzie Financial Corp raised its stake in FirstEnergy Corporation (NYSE:FE) by 418.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 270,183 shares of the utilities provider’s stock after buying an additional 218,020 shares during the period. Mackenzie Financial Corp’s holdings in FirstEnergy were worth $10,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FE. Oliver Lagore Vanvalin Investment Group acquired a new position in FirstEnergy in the 2nd quarter valued at about $26,000. Investment Research & Advisory Group Inc. bought a new stake in shares of FirstEnergy during the second quarter worth approximately $26,000. Capital Advisors Ltd. LLC grew its position in shares of FirstEnergy by 186.4% in the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 440 shares during the last quarter. Olistico Wealth LLC increased its stake in shares of FirstEnergy by 120.0% during the second quarter. Olistico Wealth LLC now owns 1,100 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 600 shares during the period. Finally, UMB Bank n.a. lifted its holdings in FirstEnergy by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 1,665 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 381 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho increased their price objective on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Jefferies Financial Group raised their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Scotiabank boosted their price objective on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. Citigroup began coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price on the stock. Finally, UBS Group lifted their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $45.69 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.64 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $26.39 billion, a PE ratio of 19.95, a PEG ratio of 2.83 and a beta of 0.66. The firm has a 50 day moving average of $46.37 and a 200-day moving average of $43.49. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $48.20.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data 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 11.15% and a net margin of 9.19%.The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the company earned $0.85 EPS. FirstEnergy’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. On average, equities research analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. FirstEnergy’s payout ratio is 77.73%.

FirstEnergy Company 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.