Bank of New York Mellon Corp Sells 645,115 Shares of FirstEnergy Corporation $FE

Key Points

• Bank of New York Mellon reduced its FirstEnergy stake by 14.8% in the first quarter, selling 645,115 shares and ending with 3.73 million shares worth about $188.7 million.
• Other institutional investors also made notable moves in FE, while 89.41% of the stock remains owned by institutions, highlighting continued heavy professional ownership.
• Analyst sentiment is mixed but constructive: FirstEnergy holds a Moderate Buy consensus with an average price target of $52.75, and the stock recently traded around $48.53 after the company reported earnings that matched estimates and beat revenue expectations.

Bank of New York Mellon Corp lessened its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 14.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,725,176 shares of the utilities provider's stock after selling 645,115 shares during the period. Bank of New York Mellon Corp owned about 0.64% of FirstEnergy worth $188,717,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FE. Northwestern Mutual Wealth Management Co. increased 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 buying an additional 1,957,673 shares during the period. Intech Investment Management LLC increased its position in 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 in the last quarter. BW Gestao de Investimentos Ltda. bought a new position in shares of FirstEnergy in the 4th quarter valued at $15,172,000. Vanguard Group Inc. raised its position in FirstEnergy by 1.1% in 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 purchasing an additional 761,157 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in FirstEnergy by 2.3% in the 4th 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 Upgrades and Downgrades

FE has been the topic of a number of recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of FirstEnergy in a research note on Tuesday, April 21st. TD Cowen raised shares of 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 report on Friday, May 15th. Jefferies Financial Group lifted their price objective on shares of FirstEnergy from $50.00 to $52.00 and gave the company a "hold" rating in a research note on Tuesday, April 21st. New Street Research set a $52.00 target price on shares of FirstEnergy in a research note on Tuesday, April 21st. Finally, Weiss Ratings cut shares of FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.75.

FirstEnergy Stock Down 1.2%

FirstEnergy stock opened at $48.53 on Friday. FirstEnergy Corporation has a 1-year low of $40.50 and a 1-year high of $52.34. The firm has a market capitalization of $28.07 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.47. The firm's fifty day moving average price is $46.74 and its two-hundred day moving average price is $47.96. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 1.87.

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

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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