FirstEnergy Corporation $FE Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. grew its stake in FirstEnergy Corporation (NYSE:FE) by 69.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,033 shares of the utilities provider’s stock after acquiring an additional 195,825 shares during the quarter. Prudential Financial Inc.’s holdings in FirstEnergy were worth $19,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FE. DekaBank Deutsche Girozentrale lifted its stake in FirstEnergy by 1.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after purchasing an additional 1,349 shares during the last quarter. Atria Investments Inc increased its holdings in shares of FirstEnergy by 84.7% during the second quarter. Atria Investments Inc now owns 52,238 shares of the utilities provider’s stock valued at $2,103,000 after purchasing an additional 23,959 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of FirstEnergy by 33.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 425,860 shares of the utilities provider’s stock worth $17,145,000 after buying an additional 107,579 shares in the last quarter. Brighton Jones LLC acquired a new stake in FirstEnergy in the fourth quarter worth approximately $256,000. Finally, Nordea Investment Management AB boosted its stake in FirstEnergy by 3.7% during the second quarter. Nordea Investment Management AB now owns 26,621 shares of the utilities provider’s stock valued at $1,060,000 after buying an additional 956 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FE shares. Citigroup started coverage on FirstEnergy in a report on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price for the company. Mizuho increased their price objective on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Wells Fargo & Company upgraded FirstEnergy to a “strong-buy” rating in a research report on Tuesday, October 28th. Jefferies Financial Group lifted their target price on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Finally, KeyCorp lowered shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, FirstEnergy currently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Stock Down 0.9%

Shares of NYSE:FE opened at $46.90 on Wednesday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The business’s 50 day moving average is $46.02 and its 200 day moving average is $43.31. The stock has a market cap of $27.09 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.80 and a beta of 0.53.

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 company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. FirstEnergy’s revenue was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, sell-side analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, November 7th. FirstEnergy’s dividend 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.