Fifth Third Bancorp Acquires 400,399 Shares of FirstEnergy Corporation $FE

Fifth Third Bancorp grew its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 998.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 440,485 shares of the utilities provider’s stock after buying an additional 400,399 shares during the period. Fifth Third Bancorp’s holdings in FirstEnergy were worth $22,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Management Group Inc. ADV lifted its stake in FirstEnergy by 3.5% in the first quarter. Advisors Management Group Inc. ADV now owns 240,056 shares of the utilities provider’s stock worth $12,161,000 after acquiring an additional 8,144 shares during the period. Simplicity Wealth LLC increased its position in FirstEnergy by 3.4% during the 1st quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 223 shares during the period. Sequoia Financial Advisors LLC increased its position in FirstEnergy by 27.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 61,331 shares of the utilities provider’s stock valued at $3,107,000 after purchasing an additional 13,330 shares during the period. Resona Asset Management Co. Ltd. increased its position in FirstEnergy by 0.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 213,030 shares of the utilities provider’s stock valued at $10,785,000 after purchasing an additional 1,006 shares during the period. Finally, Navalign LLC raised its holdings in FirstEnergy by 2.0% in the 1st quarter. Navalign LLC now owns 23,680 shares of the utilities provider’s stock worth $1,200,000 after purchasing an additional 473 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FE. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $55.00 target price on shares of FirstEnergy in a research report on Tuesday, April 21st. Jefferies Financial Group boosted their price target on shares of FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings downgraded shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Wolfe Research lowered shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, New Street Research set a $52.00 price objective on FirstEnergy in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, FirstEnergy presently has an average rating of “Moderate Buy” and a consensus price target of $52.23.

FirstEnergy Stock Up 1.0%

NYSE:FE opened at $48.41 on Tuesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.52 and a quick ratio of 0.42. The firm’s 50-day moving average price is $46.45 and its 200-day moving average price is $47.86. The company has a market capitalization of $28.00 billion, a PE ratio of 26.31, a P/E/G ratio of 2.29 and a beta of 0.47. FirstEnergy Corporation has a 1-year low of $40.01 and a 1-year high of $52.34.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same period last year, the company posted $0.67 EPS. FirstEnergy’s revenue was up 11.6% on a year-over-year basis. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. On average, equities analysts predict that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

About FirstEnergy

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.