MBB Public Markets I LLC Makes New $306,000 Investment in FirstEnergy Corporation $FE

MBB Public Markets I LLC bought a new position in shares of FirstEnergy Corporation (NYSE:FE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,560 shares of the utilities provider’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in FirstEnergy by 0.5% during the first quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock worth $2,673,792,000 after acquiring an additional 306,313 shares during the last quarter. Boston Partners increased 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 acquiring an additional 2,459,779 shares during the last quarter. Soroban Capital Partners LP increased its stake in FirstEnergy by 60.2% during the fourth quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider’s stock worth $331,795,000 after acquiring an additional 3,133,083 shares during the last quarter. Zimmer Partners LP increased its stake in FirstEnergy by 33.4% during the fourth quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider’s stock worth $195,672,000 after acquiring an additional 1,232,040 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in FirstEnergy by 2.9% during the first quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock worth $165,674,000 after acquiring an additional 116,825 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FE shares. UBS Group set a $44.00 target price on FirstEnergy and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $43.00 to $49.00 in a research note on Monday, August 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of FirstEnergy in a research note on Thursday, August 21st. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Finally, Mizuho lifted their price objective on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $46.31.

FirstEnergy Trading Down 0.3%

FE opened at $43.23 on Thursday. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $44.78. The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.66 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The business has a fifty day moving average price of $42.38 and a 200 day moving average price of $41.31.

FirstEnergy (NYSE:FE) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the firm posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Sell-side analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 7th were paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, August 7th. FirstEnergy’s payout ratio is presently 78.76%.

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.