iA Global Asset Management Inc. Invests $2.37 Million in FirstEnergy Corporation $FE

iA Global Asset Management Inc. bought a new position in shares of FirstEnergy Corporation (NYSE:FE) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 46,783 shares of the utilities provider’s stock, valued at approximately $2,370,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FE. State of Wyoming purchased a new position in FirstEnergy during the second quarter valued at approximately $25,000. Olistico Wealth LLC acquired a new stake in shares of FirstEnergy during the 4th quarter worth approximately $31,000. DV Equities LLC acquired a new stake in shares of FirstEnergy during the 4th quarter worth approximately $33,000. Quest 10 Wealth Builders Inc. increased its holdings in shares of FirstEnergy by 507.9% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 640 shares in the last quarter. Finally, Summit Securities Group LLC lifted its stake in shares of FirstEnergy by 148.0% in the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 2,376 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FE. JPMorgan Chase & Co. increased their price target on shares of FirstEnergy from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wolfe Research cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. UBS Group upped their price objective on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings cut FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $55.00 price target on shares of FirstEnergy in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, FirstEnergy has a consensus rating of “Moderate Buy” and an average price target of $52.23.

FirstEnergy Price Performance

Shares of NYSE FE opened at $48.48 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.42 and a current ratio of 0.52. The firm has a fifty day moving average of $46.57 and a 200 day moving average of $47.68. The firm has a market cap of $28.04 billion, a PE ratio of 26.35, a PEG ratio of 2.26 and a beta of 0.47. FirstEnergy Corporation has a one year low of $39.34 and a one year high of $52.34.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $3.80 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, research analysts predict that FirstEnergy Corporation will post 2.73 EPS for the current fiscal year.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.