Allspring Global Investments Holdings LLC Sells 3,148 Shares of FirstEnergy Corporation $FE

Allspring Global Investments Holdings LLC cut its position in shares of FirstEnergy Corporation (NYSE:FE) by 0.0% in the second quarter, Holdings Channel reports. The institutional investor owned 9,185,350 shares of the utilities provider’s stock after selling 3,148 shares during the period. FirstEnergy comprises 0.6% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 22nd biggest holding. Allspring Global Investments Holdings LLC’s holdings in FirstEnergy were worth $370,904,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Investment Research & Advisory Group Inc. bought a new position in shares of FirstEnergy during the second quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in FirstEnergy during the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC acquired a new position in FirstEnergy during the first quarter valued at approximately $27,000. Capital Advisors Ltd. LLC boosted its position in FirstEnergy by 186.4% during 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. Finally, TruNorth Capital Management LLC boosted its position in FirstEnergy by 226.9% during the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 490 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FE. Morgan Stanley reduced their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group set a $44.00 price target on FirstEnergy and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $43.00 to $49.00 in a research report on Monday, August 25th. Citigroup began coverage on FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target for the company. Finally, Mizuho increased their price target on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.77.

FirstEnergy Stock Performance

FE opened at $46.92 on Monday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $47.37. The stock has a market cap of $27.09 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.88 and a beta of 0.52. The business has a 50 day moving average of $44.09 and a 200-day moving average of $42.14. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68.

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 analysts’ consensus estimates of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last 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 expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.8%. FirstEnergy’s dividend payout ratio (DPR) is 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.