Sumitomo Mitsui Trust Group Inc. Has $51.78 Million Holdings in FirstEnergy Corporation $FE

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 1.0% in the second quarter, Holdings Channel reports. The institutional investor owned 1,286,247 shares of the utilities provider’s stock after selling 12,891 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in FirstEnergy were worth $51,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Investment Research & Advisory Group Inc. acquired a new position in shares of FirstEnergy during the second quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of FirstEnergy in the second quarter valued at $26,000. N.E.W. Advisory Services LLC acquired a new position in shares of FirstEnergy in the first quarter valued at $27,000. Capital Advisors Ltd. LLC raised its stake in shares of FirstEnergy by 186.4% in the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 440 shares in the last quarter. Finally, TruNorth Capital Management LLC raised its stake in shares of FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 490 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

FirstEnergy stock opened at $46.43 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The stock has a fifty day moving average price of $44.88 and a two-hundred day moving average price of $42.71. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20. The firm has a market capitalization of $26.81 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.85 and a beta of 0.52.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a return on equity of 11.20% and a net margin of 9.19%.The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, analysts anticipate 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. Stockholders of record on Friday, November 7th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, November 7th. FirstEnergy’s dividend payout ratio is presently 77.73%.

Analyst Upgrades and Downgrades

FE has been the subject of a number of recent research reports. Scotiabank upped their target price on FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday. UBS Group upped their target price on FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday. Wells Fargo & Company initiated coverage on FirstEnergy in a research note on Monday. They issued an “overweight” rating and a $54.00 target price for the company. Morgan Stanley upped their target price on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Citigroup started coverage on FirstEnergy in a research note on Tuesday, October 7th. They set a “buy” rating and a $53.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock 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.