Dimensional Fund Advisors LP Purchases 35,259 Shares of FirstEnergy Corporation $FE

Dimensional Fund Advisors LP raised its position in shares of FirstEnergy Corporation (NYSE:FE) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,627,745 shares of the utilities provider’s stock after buying an additional 35,259 shares during the quarter. Dimensional Fund Advisors LP owned about 0.45% of FirstEnergy worth $133,116,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of FirstEnergy by 11,305.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock worth $81,699,000 after acquiring an additional 1,957,673 shares during the last quarter. Intech Investment Management LLC raised its position in shares of FirstEnergy by 42.8% in the 4th quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock worth $3,817,000 after purchasing an additional 25,571 shares during the last quarter. Vanguard Group Inc. raised its position in shares of FirstEnergy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock worth $3,049,255,000 after purchasing an additional 761,157 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new position in FirstEnergy in the 4th quarter worth about $15,172,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in FirstEnergy by 2.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,277,257 shares of the utilities provider’s stock worth $419,889,000 after purchasing an additional 205,618 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FE. New Street Research set a $52.00 price objective on shares of FirstEnergy in a research note on Tuesday, April 21st. Weiss Ratings downgraded shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Wolfe Research downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $55.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.92.

FirstEnergy Price Performance

Shares of FE opened at $49.36 on Tuesday. The firm has a market cap of $28.55 billion, a PE ratio of 26.83, a P/E/G ratio of 2.39 and a beta of 0.47. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 1.87. The firm has a fifty day simple moving average of $47.31 and a two-hundred day simple moving average of $48.16. FirstEnergy Corporation has a 1-year low of $41.30 and a 1-year high of $52.34.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $3.80 billion. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. On average, equities analysts anticipate that FirstEnergy Corporation will post 2.73 EPS for the current year.

FirstEnergy Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 3.8%. FirstEnergy’s dividend payout ratio (DPR) is presently 101.09%.

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.