FirstEnergy Corporation $FE Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in FirstEnergy Corporation (NYSE:FE) by 1,379.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,945 shares of the utilities provider’s stock after acquiring an additional 107,176 shares during the period. Edgestream Partners L.P.’s holdings in FirstEnergy were worth $4,628,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FE. DekaBank Deutsche Girozentrale raised its position in shares of FirstEnergy by 1.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after buying an additional 1,349 shares during the period. Advisors Asset Management Inc. grew its position in FirstEnergy by 52.7% during the second quarter. Advisors Asset Management Inc. now owns 42,632 shares of the utilities provider’s stock valued at $1,716,000 after acquiring an additional 14,718 shares during the period. Atria Investments Inc increased its stake 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 acquiring an additional 23,959 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of FirstEnergy by 69.9% in the 2nd quarter. Prudential Financial Inc. now owns 476,033 shares of the utilities provider’s stock worth $19,165,000 after purchasing an additional 195,825 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of FirstEnergy by 33.8% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 425,860 shares of the utilities provider’s stock valued at $17,145,000 after purchasing an additional 107,579 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Down 1.6%

NYSE FE opened at $45.69 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75. The company has a 50-day simple moving average of $46.37 and a 200-day simple moving average of $43.49. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $48.20. The firm has a market capitalization of $26.39 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.83 and a beta of 0.66.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, equities analysts forecast 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, December 1st. Investors of record on Friday, November 7th were issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, November 7th. FirstEnergy’s dividend payout ratio is 77.73%.

Wall Street Analyst Weigh In

FE has been the topic of several recent research reports. UBS Group lifted their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Scotiabank raised their price target on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, KeyCorp downgraded shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Moderate Buy” and an average target price 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.