1832 Asset Management L.P. Lowers Stock Position in FirstEnergy Corporation $FE

Key Points

• 1832 Asset Management L.P. reduced its stake in FirstEnergy Corporation by 20%, now holding approximately $65.23 million worth of shares, which reflects significant institutional trading activity.
• FirstEnergy reported $0.52 earnings per share for the last quarter, exceeding analysts' expectations, although its revenue slightly missed projections at $3.40 billion.
• The company announced a quarterly dividend of $0.445 per share, yielding approximately 4.1%, with a payout ratio of 78.76%.

1832 Asset Management L.P. cut its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 20.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,613,873 shares of the utilities provider's stock after selling 402,561 shares during the period. 1832 Asset Management L.P. owned about 0.28% of FirstEnergy worth $65,233,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FE. N.E.W. Advisory Services LLC acquired a new position in FirstEnergy during the first quarter worth $27,000. TruNorth Capital Management LLC raised its position in FirstEnergy by 226.9% during the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after acquiring an additional 490 shares during the period. Bernard Wealth Management Corp. acquired a new position in FirstEnergy during the fourth quarter worth $33,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in FirstEnergy during the first quarter worth $40,000. Finally, Tsfg LLC raised its position in FirstEnergy by 143.6% during the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock worth $43,000 after acquiring an additional 632 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Trading Up 0.4%

Shares of FE traded up $0.20 during mid-day trading on Wednesday, reaching $43.79. The stock had a trading volume of 3,218,043 shares, compared to its average volume of 4,866,601. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.97. The business's fifty day moving average is $41.62 and its 200 day moving average is $41.09. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 2.68 and a beta of 0.48.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, sell-side analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 7th. FirstEnergy's dividend payout ratio (DPR) is 78.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FE shares. Barclays raised shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $43.00 to $49.00 in a report on Monday. KeyCorp reaffirmed an "overweight" rating and set a $46.00 target price (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Morgan Stanley reaffirmed an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Finally, Mizuho upped their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $46.31.

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.