US Bancorp DE Acquires 4,952 Shares of FirstEnergy Corporation $FE

US Bancorp DE increased its position in shares of FirstEnergy Corporation (NYSE:FE) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,795 shares of the utilities provider’s stock after purchasing an additional 4,952 shares during the quarter. US Bancorp DE’s holdings in FirstEnergy were worth $1,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position 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 purchasing an additional 306,313 shares during the period. Boston Partners lifted its position 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 lifted its position 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 purchasing an additional 116,825 shares during the period. Charles Schwab Investment Management Inc. lifted its position in FirstEnergy by 0.8% during the first 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in FirstEnergy by 0.8% during the first 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 period. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FE. Mizuho upped their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Citigroup started coverage on shares of FirstEnergy in a report on Tuesday, October 7th. They issued a “buy” rating and a $53.00 target price for the company. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Finally, Morgan Stanley dropped their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. 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 currently has an average rating of “Hold” and a consensus price target of $46.83.

FirstEnergy Stock Performance

FirstEnergy stock opened at $47.65 on Thursday. The business has a 50 day moving average of $44.32 and a 200-day moving average of $42.26. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $47.83. 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 company has a market capitalization of $27.51 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.92 and a beta of 0.52.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter in the prior year, the firm posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities research analysts predict 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 given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio is currently 78.76%.

About FirstEnergy

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.