Harvest Portfolios Group Inc. Raises Holdings in FirstEnergy Corporation $FE

Harvest Portfolios Group Inc. boosted its stake in shares of FirstEnergy Corporation (NYSE:FE) by 22.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,286 shares of the utilities provider’s stock after acquiring an additional 32,810 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in FirstEnergy were worth $7,299,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Boston Partners increased its holdings in shares of FirstEnergy by 14.9% during the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock valued at $767,952,000 after purchasing an additional 2,459,779 shares in the last quarter. Federated Hermes Inc. raised its position in shares of FirstEnergy by 133,614.8% in the first 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 during the period. Wealthquest Corp acquired a new position in shares of FirstEnergy in the first quarter worth about $53,169,000. Envestnet Asset Management Inc. boosted its stake in shares of FirstEnergy by 82.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,326,830 shares of the utilities provider’s stock worth $53,418,000 after acquiring an additional 598,732 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position 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 valued at $48,711,000 after acquiring an additional 449,234 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

FE stock opened at $45.87 on Friday. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $48.20. The firm has a market capitalization of $26.50 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51. The business’s 50-day moving average is $45.25 and its two-hundred day moving average is $42.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy’s payout ratio is presently 77.73%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of FirstEnergy to a “strong-buy” rating in a research report on Tuesday, October 28th. Morgan Stanley upped their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Jefferies Financial Group lifted their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Finally, UBS Group boosted their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Company 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.