DekaBank Deutsche Girozentrale Buys 1,349 Shares of FirstEnergy Corporation $FE

DekaBank Deutsche Girozentrale lifted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,565 shares of the utilities provider’s stock after purchasing an additional 1,349 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in FirstEnergy were worth $3,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners grew its position in FirstEnergy by 14.9% during the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock worth $767,952,000 after buying an additional 2,459,779 shares in the last quarter. Federated Hermes Inc. grew its position in FirstEnergy by 133,614.8% during the first quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider’s stock worth $93,394,000 after buying an additional 2,308,864 shares in the last quarter. Wealthquest Corp purchased a new position in FirstEnergy during the first quarter worth about $53,169,000. OLD Republic International Corp purchased a new position in FirstEnergy during the first quarter worth about $21,079,000. Finally, Raymond James Financial Inc. grew its position in FirstEnergy by 59.4% during the first quarter. Raymond James Financial Inc. now owns 1,205,121 shares of the utilities provider’s stock worth $48,711,000 after buying an additional 449,234 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

FE opened at $46.80 on Friday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average price of $44.80 and a 200-day moving average price of $42.64. The stock has a market capitalization of $27.02 billion, a P/E ratio of 20.44, a PEG ratio of 3.15 and a beta of 0.52.

FirstEnergy (NYSE:FE) last released its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a return on equity of 11.20% and a net margin of 9.19%.The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the company posted $0.85 EPS. FirstEnergy’s revenue for the quarter was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Equities analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. FirstEnergy’s payout ratio is currently 77.73%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup assumed coverage on FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price for the company. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a research report on Saturday. Morgan Stanley upped their price objective on FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Mizuho upped their price objective on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.25.

FirstEnergy Company Profile

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.