FirstEnergy Corporation $FE Shares Sold by Amundi

Key Points

• Amundi has reduced its stake in FirstEnergy Corporation by 22.3%, holding 1,432,011 shares worth approximately $58.78 million after selling 411,953 shares in the first quarter.
• FirstEnergy reported an earnings per share of $0.52 for the last quarter, exceeding analysts' expectations, despite revenues falling short at $3.40 billion.
• The company declared a quarterly dividend of $0.445 per share, with an annualized dividend yield of 4.1% and a payout ratio of 78.76%.

Amundi decreased its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,432,011 shares of the utilities provider's stock after selling 411,953 shares during the quarter. Amundi owned approximately 0.25% of FirstEnergy worth $58,784,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FE. N.E.W. Advisory Services LLC acquired a new position in shares of FirstEnergy during the 1st quarter worth about $27,000. TruNorth Capital Management LLC raised its position in shares of FirstEnergy by 226.9% during the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after acquiring an additional 490 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of FirstEnergy during the 4th quarter worth about $33,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of FirstEnergy during the 1st quarter worth about $40,000. Finally, Tsfg LLC raised its position in shares of FirstEnergy by 143.6% during the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock worth $43,000 after acquiring an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research report on Thursday, August 21st. Barclays raised FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. Mizuho raised their target price on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, FirstEnergy has an average rating of "Hold" and an average price target of $46.31.

FirstEnergy Stock Performance

Shares of FE stock traded up $0.21 during midday trading on Friday, hitting $43.80. The company had a trading volume of 2,766,595 shares, compared to its average volume of 3,282,178. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.68 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The company's 50 day simple moving average is $42.54 and its 200 day simple moving average is $41.31. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.78.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results 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. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter in the previous year, the company posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Research analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 7th were issued a $0.445 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.1%. FirstEnergy's payout ratio is presently 78.76%.

About FirstEnergy

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.