Bessemer Group Inc. Grows Stake in FirstEnergy Corporation $FE

Bessemer Group Inc. boosted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 71.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,859 shares of the utilities provider’s stock after acquiring an additional 10,803 shares during the quarter. Bessemer Group Inc.’s holdings in FirstEnergy were worth $1,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in FirstEnergy by 4.1% during the 4th quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider’s stock valued at $241,000 after buying an additional 213 shares during the period. Simplicity Wealth LLC boosted its stake in FirstEnergy by 3.4% during the first quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider’s stock worth $346,000 after buying an additional 223 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in FirstEnergy by 5.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider’s stock valued at $209,000 after acquiring an additional 223 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of FirstEnergy by 44.4% in the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 232 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of FirstEnergy by 4.8% during the 4th quarter. Signaturefd LLC now owns 5,181 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 235 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

Shares of NYSE:FE opened at $49.48 on Friday. The firm’s 50 day simple moving average is $47.09 and its 200-day simple moving average is $48.09. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.42 and a current ratio of 0.52. FirstEnergy Corporation has a one year low of $41.17 and a one year high of $52.34. The firm has a market cap of $28.62 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.36 and a beta of 0.47.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $3.80 billion. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.FirstEnergy’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, equities analysts predict that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, August 7th. FirstEnergy’s payout ratio is presently 101.09%.

Analysts Set New Price Targets

Several equities analysts recently commented on FE shares. Wolfe Research downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. TD Cowen upgraded FirstEnergy from a “hold” rating to a “buy” rating and dropped their target price for the company from $56.00 to $53.00 in a research report on Friday, May 15th. Barclays upped their target price on FirstEnergy from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group increased their price target on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.92.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.