Raymond James Financial Inc. Has $48.71 Million Holdings in FirstEnergy Corporation $FE

Raymond James Financial Inc. boosted its position in shares of FirstEnergy Corporation (NYSE:FE) by 59.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,205,121 shares of the utilities provider’s stock after acquiring an additional 449,234 shares during the quarter. Raymond James Financial Inc. owned 0.21% of FirstEnergy worth $48,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of FirstEnergy by 0.5% in the first quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock valued at $2,673,792,000 after purchasing an additional 306,313 shares during the last quarter. Boston Partners lifted its position in FirstEnergy by 14.9% during the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock worth $767,952,000 after purchasing an additional 2,459,779 shares during the period. Soroban Capital Partners LP lifted its position in FirstEnergy by 60.2% during the fourth quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider’s stock worth $331,795,000 after purchasing an additional 3,133,083 shares during the period. Zimmer Partners LP lifted its position in FirstEnergy by 33.4% during the fourth quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider’s stock worth $195,672,000 after purchasing an additional 1,232,040 shares during the period. Finally, Northern Trust Corp lifted its position in FirstEnergy by 6.4% during the fourth quarter. Northern Trust Corp now owns 4,606,758 shares of the utilities provider’s stock worth $183,257,000 after purchasing an additional 276,241 shares during the period. 89.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FE has been the subject of a number of research reports. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a research report on Friday, April 25th. Wells Fargo & Company increased their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Finally, Morgan Stanley reduced their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and a consensus target price of $46.08.

FirstEnergy Trading Down 0.2%

Shares of FirstEnergy stock opened at $43.4850 on Friday. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.97. The stock’s 50-day simple moving average is $41.40 and its 200 day simple moving average is $41.01. The stock has a market capitalization of $25.11 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.68 and a beta of 0.48. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, research analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.445 per share. The ex-dividend date is Thursday, August 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.1%. FirstEnergy’s dividend payout ratio is currently 78.76%.

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.