Strs Ohio Grows Holdings in FirstEnergy Corporation $FE

Strs Ohio increased its position in shares of FirstEnergy Corporation (NYSE:FE) by 25.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,164 shares of the utilities provider’s stock after buying an additional 14,027 shares during the period. Strs Ohio’s holdings in FirstEnergy were worth $2,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of FirstEnergy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock worth $2,673,792,000 after purchasing an additional 306,313 shares during the last quarter. Boston Partners increased its position in shares of FirstEnergy by 14.9% in the 1st 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 last quarter. Royal Bank of Canada increased its position in shares of FirstEnergy by 2.9% in the 1st quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock worth $165,674,000 after purchasing an additional 116,825 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 worth $138,671,000 after purchasing an additional 28,683 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 worth $107,707,000 after purchasing an additional 21,177 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.4%

FirstEnergy stock opened at $46.03 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $45.12 and a two-hundred day moving average price of $42.90. The firm has a market capitalization of $26.59 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.80 and a beta of 0.52. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20.

FirstEnergy (NYSE:FE) last posted its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. FirstEnergy’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Sell-side analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is presently 77.73%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Wells Fargo & Company raised shares of FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. Morgan Stanley lifted their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Citigroup started coverage on shares of FirstEnergy in a report on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target for the company. 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 report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

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.