FirstEnergy Corporation $FE Shares Acquired by Magellan Asset Management Ltd

Magellan Asset Management Ltd increased its position in FirstEnergy Corporation (NYSE:FE) by 9.2% in the 3rd quarter, Holdings Channel reports. The firm owned 451,719 shares of the utilities provider’s stock after buying an additional 38,011 shares during the period. Magellan Asset Management Ltd’s holdings in FirstEnergy were worth $20,698,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Mufg Securities Americas Inc. lifted its stake in FirstEnergy by 23.1% in the third quarter. Mufg Securities Americas Inc. now owns 14,013 shares of the utilities provider’s stock valued at $642,000 after buying an additional 2,629 shares during the last quarter. AXQ Capital LP increased its holdings in shares of FirstEnergy by 138.1% in the 3rd quarter. AXQ Capital LP now owns 18,568 shares of the utilities provider’s stock valued at $851,000 after acquiring an additional 10,769 shares during the period. Compound Planning Inc. purchased a new stake in FirstEnergy in the 3rd quarter valued at $208,000. EverSource Wealth Advisors LLC boosted its stake in FirstEnergy by 20.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,018 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 517 shares during the period. Finally, Bleakley Financial Group LLC grew its position in FirstEnergy by 7.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 23,388 shares of the utilities provider’s stock worth $1,072,000 after purchasing an additional 1,685 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE stock opened at $50.62 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 1.83. The stock has a 50 day simple moving average of $46.64 and a 200-day simple moving average of $45.69. The company has a market cap of $29.25 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $50.83.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, February 17th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.20 billion. FirstEnergy had a return on equity of 10.50% and a net margin of 6.76%.During the same period in the previous year, the business earned $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. On average, equities analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be paid a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 3.7%. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, May 7th. FirstEnergy’s dividend payout ratio (DPR) is 101.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FE. Mizuho set a $51.00 target price on shares of FirstEnergy in a report on Thursday, February 19th. Barclays reduced their price objective on FirstEnergy from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Wolfe Research upgraded FirstEnergy from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 27th. UBS Group cut their price target on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a report on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.31.

FirstEnergy Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.