FirstEnergy Corporation $FE Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 198.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,888,967 shares of the utilities provider’s stock after buying an additional 4,578,375 shares during the period. Federated Hermes Inc. owned 1.19% of FirstEnergy worth $277,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its stake in 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 acquiring an additional 2,459,779 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of FirstEnergy by 1.3% during the second quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider’s stock valued at $2,696,940,000 after purchasing an additional 837,872 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of FirstEnergy by 82.2% during the second quarter. Envestnet Asset Management Inc. now owns 1,326,830 shares of the utilities provider’s stock valued at $53,418,000 after purchasing an additional 598,732 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in FirstEnergy by 59.4% in the first quarter. Raymond James Financial Inc. now owns 1,205,121 shares of the utilities provider’s stock worth $48,711,000 after purchasing an additional 449,234 shares during the period. Finally, Legal & General Group Plc grew its position in FirstEnergy by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock valued at $189,830,000 after buying an additional 374,053 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Trading Down 0.4%

FirstEnergy stock opened at $44.94 on Friday. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 2.74 and a beta of 0.66. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $48.20. The firm’s 50 day moving average price is $46.40 and its two-hundred day moving average price is $43.53. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, research analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FE. Citigroup assumed coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target on the stock. Jefferies Financial Group boosted their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Mizuho upped their target price on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Finally, Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.