FirstEnergy Corporation $FE Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in FirstEnergy Corporation (NYSE:FE) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,445 shares of the utilities provider’s stock after acquiring an additional 1,328 shares during the period. QRG Capital Management Inc.’s holdings in FirstEnergy were worth $622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Boston Partners grew its position in FirstEnergy by 14.9% during the 1st 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. Federated Hermes Inc. boosted its stake in shares of FirstEnergy by 133,614.8% during the 1st quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider’s stock worth $93,394,000 after acquiring an additional 2,308,864 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of FirstEnergy during the 1st quarter worth about $53,169,000. OLD Republic International Corp purchased a new stake in shares of FirstEnergy during the 1st quarter worth about $21,079,000. Finally, Raymond James Financial Inc. boosted its stake in shares of FirstEnergy by 59.4% during the 1st quarter. Raymond James Financial Inc. now owns 1,205,121 shares of the utilities provider’s stock worth $48,711,000 after acquiring an additional 449,234 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Trading Down 0.0%

Shares of FirstEnergy stock opened at $46.67 on Friday. The firm has a market capitalization of $26.95 billion, a PE ratio of 20.65, a P/E/G ratio of 2.87 and a beta of 0.52. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $47.35. The firm’s 50-day moving average price is $44.02 and its 200 day moving average price is $42.03. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same period last year, the company posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, sell-side analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is 78.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. Mizuho increased their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Finally, Morgan Stanley lowered their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.77.

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.