Odyssean LLC Acquires 18,736 Shares of FirstEnergy Corporation $FE

Odyssean LLC grew its holdings in FirstEnergy Corporation (NYSE:FE) by 71.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,139 shares of the utilities provider’s stock after acquiring an additional 18,736 shares during the quarter. Odyssean LLC’s holdings in FirstEnergy were worth $2,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FE. Jupiter Topco LLC bought a new position in FirstEnergy during the second quarter worth about $7,311,000. Hsbc Holdings PLC boosted its holdings in FirstEnergy by 32.9% in the 2nd quarter. Hsbc Holdings PLC now owns 1,141,365 shares of the utilities provider’s stock valued at $54,332,000 after purchasing an additional 282,866 shares during the period. Jones Financial Companies Lllp boosted its holdings in FirstEnergy by 89.1% in the 2nd quarter. Jones Financial Companies Lllp now owns 197,241 shares of the utilities provider’s stock valued at $9,556,000 after purchasing an additional 92,954 shares during the period. Park Place Capital Corp grew its position in shares of FirstEnergy by 8.1% during the 2nd quarter. Park Place Capital Corp now owns 12,076 shares of the utilities provider’s stock worth $574,000 after purchasing an additional 905 shares in the last quarter. Finally, Allstate Corp grew its position in shares of FirstEnergy by 1.8% during the 2nd quarter. Allstate Corp now owns 54,804 shares of the utilities provider’s stock worth $2,605,000 after purchasing an additional 948 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FE has been the topic of several recent research reports. Wolfe Research cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Barclays cut their target price on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. UBS Group raised their price target on FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. TD Cowen raised shares of FirstEnergy from a “hold” rating to a “buy” rating and cut their price objective for the stock from $56.00 to $53.00 in a research report on Friday, May 15th. Finally, Morgan Stanley decreased their target price on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Trading Up 0.2%

Shares of FE opened at $46.65 on Wednesday. FirstEnergy Corporation has a 52-week low of $42.87 and a 52-week high of $52.34. The business’s fifty day moving average is $47.88 and its 200-day moving average is $48.31. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. The firm has a market cap of $26.99 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.23 and a beta of 0.46.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.51 billion. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.During the same period in the prior year, the company earned $0.52 EPS. Equities analysts anticipate that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a $0.465 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 4.0%. FirstEnergy’s dividend payout ratio is 98.94%.

FirstEnergy 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.