Westpac Banking Corp Buys New Position in FirstEnergy Corporation $FE

Westpac Banking Corp bought a new stake in FirstEnergy Corporation (NYSE:FE) during the first quarter, Holdings Channel.com reports. The fund bought 29,028 shares of the utilities provider’s stock, valued at approximately $1,471,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in FirstEnergy by 11,305.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock valued at $81,699,000 after purchasing an additional 1,957,673 shares during the period. Intech Investment Management LLC increased its holdings in shares of FirstEnergy by 42.8% during the 4th quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock worth $3,817,000 after purchasing an additional 25,571 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in shares of FirstEnergy during the 4th quarter worth about $15,172,000. Vanguard Group Inc. raised its position in shares of FirstEnergy by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock valued at $3,049,255,000 after buying an additional 761,157 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of FirstEnergy by 2.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,277,257 shares of the utilities provider’s stock valued at $419,889,000 after buying an additional 205,618 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

FE has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a research report on Wednesday. Wolfe Research cut FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. TD Cowen upgraded FirstEnergy from a “hold” rating to a “buy” rating and cut their target price for the company from $56.00 to $53.00 in a research note on Friday, May 15th. Weiss Ratings cut FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Finally, New Street Research set a $52.00 price target on shares of FirstEnergy in a research note on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.92.

FirstEnergy Stock Up 1.8%

NYSE FE opened at $49.28 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 1.87. The stock’s 50 day moving average is $46.99 and its two-hundred day moving average is $48.06. The company has a market capitalization of $28.51 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.32 and a beta of 0.47. FirstEnergy Corporation has a 1-year low of $41.03 and a 1-year high of $52.34.

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

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, August 7th. FirstEnergy’s dividend payout ratio is 101.09%.

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.