Andra AP fonden Has $1.51 Million Holdings in FirstEnergy Corporation $FE

Andra AP fonden lessened its holdings in FirstEnergy Corporation (NYSE:FE) by 60.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,510 shares of the utilities provider’s stock after selling 57,100 shares during the quarter. Andra AP fonden’s holdings in FirstEnergy were worth $1,510,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FE. Brighton Jones LLC acquired a new position in shares of FirstEnergy during the 4th quarter worth about $256,000. OneDigital Investment Advisors LLC bought a new stake in FirstEnergy during the first quarter worth about $271,000. Concurrent Investment Advisors LLC raised its holdings in FirstEnergy by 4.2% during the first quarter. Concurrent Investment Advisors LLC now owns 8,123 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 331 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in FirstEnergy by 91.0% during the first quarter. Envestnet Asset Management Inc. now owns 728,098 shares of the utilities provider’s stock valued at $29,430,000 after purchasing an additional 346,917 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in FirstEnergy by 13.9% during the first quarter. Stratos Wealth Partners LTD. now owns 26,118 shares of the utilities provider’s stock valued at $1,056,000 after purchasing an additional 3,197 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

FE has been the topic of several recent analyst reports. Mizuho boosted their price target on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Scotiabank boosted their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, October 24th. Wells Fargo & Company raised shares of FirstEnergy to a “strong-buy” rating in a research report on Tuesday, October 28th. Citigroup initiated coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target for the company. Finally, KeyCorp lowered shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

FirstEnergy Price Performance

Shares of FE opened at $45.86 on Friday. The company’s 50-day moving average is $45.30 and its 200-day moving average is $43.00. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51. The firm has a market capitalization of $26.49 billion, a PE ratio of 20.02, a PEG ratio of 2.80 and a beta of 0.53. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. FirstEnergy’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Equities analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued 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 (DPR) is currently 77.73%.

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.