Allianz Asset Management GmbH Sells 3,565 Shares of FirstEnergy Corporation $FE

Allianz Asset Management GmbH cut its stake in shares of FirstEnergy Corporation (NYSE:FE) by 29.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,355 shares of the utilities provider’s stock after selling 3,565 shares during the period. Allianz Asset Management GmbH’s holdings in FirstEnergy were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FE. CWM LLC raised its holdings in shares of FirstEnergy by 2.0% in the second quarter. CWM LLC now owns 12,044 shares of the utilities provider’s stock worth $485,000 after buying an additional 240 shares during the period. Dakota Wealth Management raised its holdings in shares of FirstEnergy by 3.4% in the first quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock worth $309,000 after buying an additional 249 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in shares of FirstEnergy by 2.4% in the first quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider’s stock worth $437,000 after buying an additional 255 shares during the period. Equitable Trust Co. grew its stake in FirstEnergy by 1.2% in the first quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider’s stock worth $917,000 after purchasing an additional 266 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in FirstEnergy by 4.5% in the second quarter. Valeo Financial Advisors LLC now owns 6,444 shares of the utilities provider’s stock worth $259,000 after purchasing an additional 277 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

Shares of FirstEnergy stock opened at $46.18 on Wednesday. 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 twelve month low of $37.58 and a twelve month high of $48.20. The business has a 50-day moving average price of $44.93 and a 200 day moving average price of $42.75. The firm has a market cap of $26.66 billion, a PE ratio of 20.16, a P/E/G ratio of 2.84 and a beta of 0.52.

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

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy’s dividend payout ratio is currently 77.73%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FE. Scotiabank increased their price objective on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 24th. Mizuho increased their price objective on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Wells Fargo & Company began coverage on FirstEnergy in a research note on Monday. They issued an “overweight” rating and a $54.00 price objective on the stock. UBS Group increased their price objective on FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Citigroup started coverage on FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.08.

FirstEnergy 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.