Strs Ohio Buys Shares of 56,137 FirstEnergy Corporation $FE

Strs Ohio acquired a new position in FirstEnergy Corporation (NYSE:FE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 56,137 shares of the utilities provider’s stock, valued at approximately $2,269,000.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of FirstEnergy during the 4th quarter valued at about $256,000. Focus Partners Wealth increased its holdings in FirstEnergy by 1.4% during the fourth quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider’s stock valued at $835,000 after buying an additional 272 shares during the period. Gotham Asset Management LLC increased its holdings in FirstEnergy by 8.3% during the fourth quarter. Gotham Asset Management LLC now owns 11,004 shares of the utilities provider’s stock valued at $438,000 after buying an additional 844 shares during the period. Janus Henderson Group PLC boosted its stake in FirstEnergy by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 62,873 shares of the utilities provider’s stock valued at $2,501,000 after acquiring an additional 1,176 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of FirstEnergy by 46.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,121 shares of the utilities provider’s stock worth $4,179,000 after buying an additional 33,111 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

FE opened at $43.63 on Tuesday. 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 Corporation has a 52-week low of $37.58 and a 52-week high of $44.78. The company has a 50 day moving average of $42.61 and a two-hundred day moving average of $41.36. The company has a market cap of $25.19 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.69 and a beta of 0.50.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same period in the prior year, the firm earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 7th were given a dividend of $0.445 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.1%. FirstEnergy’s dividend payout ratio (DPR) is 78.76%.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of recent analyst reports. Mizuho lifted their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 1st. KeyCorp restated an “overweight” rating and issued a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a report on Thursday, August 21st. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $43.00 to $49.00 in a report on Monday, August 25th. Finally, UBS Group set a $44.00 target price on shares of FirstEnergy and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.31.

About FirstEnergy

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.