HITE Hedge Asset Management LLC Purchases New Position in FirstEnergy Corporation $FE

HITE Hedge Asset Management LLC purchased a new stake in shares of FirstEnergy Corporation (NYSE:FE) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 339,309 shares of the utilities provider’s stock, valued at approximately $15,547,000. HITE Hedge Asset Management LLC owned about 0.06% of FirstEnergy as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of FirstEnergy by 0.4% in the third quarter. Capital World Investors now owns 78,328,151 shares of the utilities provider’s stock worth $3,588,992,000 after purchasing an additional 305,531 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of FirstEnergy by 0.5% during the third quarter. Vanguard Group Inc. now owns 67,348,184 shares of the utilities provider’s stock valued at $3,085,894,000 after buying an additional 360,098 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of FirstEnergy by 1.1% during the second quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock valued at $524,764,000 after buying an additional 146,742 shares during the last quarter. Federated Hermes Inc. grew its holdings in FirstEnergy by 25.2% during the third quarter. Federated Hermes Inc. now owns 8,627,746 shares of the utilities provider’s stock worth $395,323,000 after buying an additional 1,738,779 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in FirstEnergy by 8.6% during the second quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock worth $189,830,000 after buying an additional 374,053 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Jon Taylor K. sold 26,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $50.94, for a total transaction of $1,365,192.00. Following the completion of the sale, the chief financial officer owned 119,552 shares in the company, valued at $6,089,978.88. This trade represents a 18.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jason Lisowski sold 3,000 shares of FirstEnergy stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $50.84, for a total transaction of $152,520.00. Following the completion of the sale, the chief accounting officer directly owned 7,176 shares in the company, valued at $364,827.84. This trade represents a 29.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,173 shares of company stock valued at $1,587,515 over the last three months. Insiders own 0.17% of the company’s stock.

FirstEnergy Trading Up 0.4%

Shares of FirstEnergy stock opened at $50.85 on Friday. The firm has a market cap of $29.39 billion, a PE ratio of 28.89, a P/E/G ratio of 2.66 and a beta of 0.61. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $51.44. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.57 and a quick ratio of 0.46. The stock has a fifty day moving average price of $48.09 and a 200-day moving average price of $46.27.

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

FirstEnergy Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on FE shares. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, February 11th. Scotiabank reiterated an “outperform” rating on shares of FirstEnergy in a report on Thursday, February 19th. UBS Group dropped their price target on shares of FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. JPMorgan Chase & Co. boosted their price target on shares of FirstEnergy from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Weiss Ratings downgraded shares of FirstEnergy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 19th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.71.

FirstEnergy Company 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.