Amundi Sells 360,511 Shares of FirstEnergy Corporation $FE

Key Points

• Amundi reduced its FirstEnergy stake by 27.3% in the first quarter, selling 360,511 shares and retaining 959,857 shares valued at approximately $48.6 million. Institutional investors collectively own 89.41% of the company.
• FirstEnergy reported quarterly EPS of $0.50, in line with estimates, while revenue of $3.68 billion exceeded forecasts of $3.51 billion. Analysts expect the company to post $2.73 in EPS for the full year.
• The company announced a quarterly dividend of $0.465 per share, or $1.86 annualized, representing a 3.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $52.83.

Amundi trimmed its stake in FirstEnergy Corporation (NYSE:FE - Free Report) by 27.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 959,857 shares of the utilities provider's stock after selling 360,511 shares during the period. Amundi owned 0.17% of FirstEnergy worth $48,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in FirstEnergy by 4.1% during the fourth quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider's stock valued at $241,000 after buying an additional 213 shares during the last quarter. Simplicity Wealth LLC increased its holdings in FirstEnergy by 3.4% during the first quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider's stock valued at $346,000 after buying an additional 223 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in FirstEnergy by 5.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider's stock valued at $209,000 after acquiring an additional 223 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in shares of FirstEnergy by 44.4% in the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 232 shares during the last quarter. Finally, Signaturefd LLC boosted its position in FirstEnergy by 4.8% in the fourth quarter. Signaturefd LLC now owns 5,181 shares of the utilities provider's stock valued at $232,000 after buying an additional 235 shares during the last quarter. Institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Performance

Shares of FE stock opened at $48.38 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. The business has a 50 day simple moving average of $47.58 and a 200 day simple moving average of $48.28. FirstEnergy Corporation has a 12-month low of $41.87 and a 12-month high of $52.34.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.50. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $0.52 earnings per share. On average, equities research analysts anticipate that FirstEnergy Corporation will post 2.73 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a yield of 3.8%. FirstEnergy's dividend payout ratio is presently 98.94%.

Analyst Ratings Changes

FE has been the subject of several recent analyst reports. Wolfe Research lowered shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. UBS Group upped their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Barclays decreased their price target on FirstEnergy from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Friday. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group raised their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a "hold" rating in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, FirstEnergy currently has a consensus rating of "Moderate Buy" and an average price target of $52.83.

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.

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