Mufg Securities Americas Inc. Purchases 2,305 Shares of FirstEnergy Corporation $FE

Mufg Securities Americas Inc. increased its position in FirstEnergy Corporation (NYSE:FE) by 25.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,384 shares of the utilities provider’s stock after buying an additional 2,305 shares during the period. Mufg Securities Americas Inc.’s holdings in FirstEnergy were worth $458,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of FirstEnergy by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider’s stock valued at $2,696,940,000 after acquiring an additional 837,872 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 valued at $767,952,000 after purchasing an additional 2,459,779 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of FirstEnergy by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock worth $524,764,000 after buying an additional 146,742 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of FirstEnergy by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock worth $189,830,000 after buying an additional 374,053 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of FirstEnergy by 2.9% during the 1st quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock valued at $165,674,000 after buying an additional 116,825 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

FE has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Jefferies Financial Group raised their price objective on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Citigroup initiated coverage on FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price on the stock. KeyCorp lowered FirstEnergy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 14th. Finally, Mizuho lifted their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.08.

FirstEnergy Stock Up 1.0%

NYSE:FE opened at $47.36 on Tuesday. The company has a market cap of $27.36 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $48.20. The company has a current ratio of 0.75, a quick ratio of 0.51 and a debt-to-equity ratio of 1.80. The stock has a fifty day simple moving average of $45.95 and a 200-day simple moving average of $43.28.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 $4.15 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. 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, December 1st. Stockholders of record on Friday, November 7th will be paid 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 of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is currently 77.73%.

About FirstEnergy

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.