Andra AP fonden Increases Stock Position in FirstEnergy Corporation $FE

Key Points

• Andra AP fonden increased its stake in FirstEnergy by 223.1% in the first quarter, bringing its holdings to 232,013 shares valued at about $11.8 million.
• FirstEnergy reported quarterly earnings of $0.72 per share, matching analyst estimates, while revenue came in at $4.20 billion, above expectations and up 11.6% year over year.
• Wall Street remains mixed but cautiously positive on FE, with a consensus rating of Moderate Buy and an average target price of $52.92.

Andra AP fonden boosted its stake in FirstEnergy Corporation (NYSE:FE - Free Report) by 223.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,013 shares of the utilities provider's stock after purchasing an additional 160,200 shares during the period. Andra AP fonden's holdings in FirstEnergy were worth $11,754,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FE. Brighton Jones LLC bought a new position in shares of FirstEnergy during the 4th quarter valued at $256,000. Integrated Wealth Concepts LLC purchased a new stake in FirstEnergy during the first quarter valued at $289,000. Empowered Funds LLC increased its position in FirstEnergy by 7.0% during the first quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider's stock valued at $453,000 after acquiring an additional 732 shares during the last quarter. Woodline Partners LP lifted its holdings in FirstEnergy by 40.7% in the first quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider's stock valued at $1,752,000 after acquiring an additional 12,531 shares during the period. Finally, Focus Partners Wealth lifted its holdings in FirstEnergy by 6.8% in the first quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider's stock valued at $856,000 after acquiring an additional 1,340 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Down 0.4%

Shares of FE stock opened at $48.34 on Wednesday. FirstEnergy Corporation has a 12-month low of $41.03 and a 12-month high of $52.34. 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 price is $46.89 and its 200-day moving average price is $48.03. The stock has a market capitalization of $27.96 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.32 and a beta of 0.47.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wolfe Research downgraded FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Wells Fargo & Company restated an "overweight" rating and set a $55.00 target price on shares of FirstEnergy in a research report on Tuesday, April 21st. Jefferies Financial Group upped their target price on shares of FirstEnergy from $50.00 to $52.00 and gave the company a "hold" rating in a report on Tuesday, April 21st. TD Cowen upgraded FirstEnergy from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $52.00 target price on shares of FirstEnergy in a research report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.92.

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.

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