UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in FirstEnergy Corporation $FE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of FirstEnergy Corporation (NYSE:FE) by 2.2% in the second quarter, HoldingsChannel.com reports. The firm owned 2,719,645 shares of the utilities provider’s stock after acquiring an additional 59,097 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in FirstEnergy were worth $129,292,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FE. Eurizon Capital SGR S.p.A. acquired a new stake in FirstEnergy in the fourth quarter valued at $123,018,000. BROOKFIELD Corp ON acquired a new position in shares of FirstEnergy during the 4th quarter worth about $110,332,000. Boston Partners increased its holdings in shares of FirstEnergy by 13.5% in the 3rd quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock valued at $841,161,000 after acquiring an additional 2,185,400 shares during the last quarter. Energy Income Partners LLC acquired a new stake in shares of FirstEnergy during the 2nd quarter worth about $97,602,000. Finally, Victory Capital Management Inc. raised its position in shares of FirstEnergy by 56.0% during the 4th quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider’s stock worth $246,515,000 after acquiring an additional 1,977,504 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FE shares. Weiss Ratings downgraded FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Barclays cut their price objective on shares of FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. TD Cowen upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $56.00 to $53.00 in a research report on Friday, May 15th. UBS Group upped their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Morgan Stanley dropped their target price on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Price Performance

FE stock opened at $46.10 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $26.68 billion, a P/E ratio of 24.52, a PEG ratio of 2.19 and a beta of 0.46. The business has a 50 day simple moving average of $47.83 and a 200-day simple moving average of $48.28. FirstEnergy Corporation has a twelve month low of $42.87 and a twelve month high of $52.34.

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

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were paid a dividend of $0.465 per share. The ex-dividend date was Friday, August 7th. This represents a $1.86 annualized dividend and a dividend yield of 4.0%. FirstEnergy’s dividend payout ratio 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.