FirstEnergy Corporation $FE Stock Position Lessened by USA Financial Formulas

USA Financial Formulas lessened its stake in FirstEnergy Corporation (NYSE:FE) by 92.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,496 shares of the utilities provider’s stock after selling 18,750 shares during the period. USA Financial Formulas’ holdings in FirstEnergy were worth $76,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of FirstEnergy by 11,305.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock valued at $81,699,000 after purchasing an additional 1,957,673 shares in the last quarter. Intech Investment Management LLC raised its position in shares of FirstEnergy by 42.8% during the fourth quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock worth $3,817,000 after purchasing an additional 25,571 shares during the period. Vanguard Group Inc. raised its position in shares of FirstEnergy by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock worth $3,049,255,000 after purchasing an additional 761,157 shares during the period. BW Gestao de Investimentos Ltda. acquired a new stake in shares of FirstEnergy during the fourth quarter worth $15,172,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of FirstEnergy by 6,066.6% during the second quarter. Assenagon Asset Management S.A. now owns 495,299 shares of the utilities provider’s stock valued at $23,547,000 after purchasing an additional 487,267 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays reduced their price target on shares of FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Weiss Ratings lowered FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. UBS Group increased their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Wells Fargo & Company reiterated an “overweight” rating and set a $55.00 price objective on shares of FirstEnergy in a report on Tuesday, April 21st. Finally, Jefferies Financial Group boosted their target price on FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, FirstEnergy has an average rating of “Moderate Buy” and an average target price of $52.83.

FirstEnergy Stock Performance

FE stock opened at $47.42 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $27.44 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 2.27 and a beta of 0.46. FirstEnergy Corporation has a 12 month low of $42.72 and a 12 month high of $52.34. The firm has a 50 day moving average of $47.85 and a two-hundred day moving average of $48.32.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, equities analysts anticipate that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is 98.94%.

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.