AXQ Capital LP Trims Position in FirstEnergy Corporation $FE

AXQ Capital LP decreased its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 35.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,799 shares of the utilities provider’s stock after selling 4,210 shares during the quarter. AXQ Capital LP’s holdings in FirstEnergy were worth $314,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its position in shares of FirstEnergy by 1.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after acquiring an additional 1,349 shares during the last quarter. Atria Investments Inc increased its position in FirstEnergy by 84.7% during the second quarter. Atria Investments Inc now owns 52,238 shares of the utilities provider’s stock worth $2,103,000 after purchasing an additional 23,959 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in FirstEnergy by 33.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 425,860 shares of the utilities provider’s stock worth $17,145,000 after purchasing an additional 107,579 shares during the period. Brighton Jones LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at $256,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of FirstEnergy by 49.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,537 shares of the utilities provider’s stock valued at $1,954,000 after buying an additional 16,046 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Up 1.0%

Shares of NYSE:FE opened at $47.36 on Tuesday. The company has a market capitalization of $27.36 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The company has a 50 day moving average of $45.95 and a two-hundred day moving average of $43.28. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Jefferies Financial Group increased their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Scotiabank raised their price objective on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Mizuho raised their price target on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, FirstEnergy has a consensus rating of “Moderate Buy” and an average price target of $49.08.

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.