Caxton Associates LLP Cuts Stock Position in FirstEnergy Corporation $FE

Key Points

• Caxton Associates LLP reduced its FirstEnergy stake by 34.7% in the first quarter, selling 36,890 shares and ending with 69,513 shares worth about $3.52 million.
• Wall Street remains moderately bullish on FE, with seven analysts rating it a Buy and six a Hold; the consensus target price is $52.92, and several firms recently reiterated or raised price targets around $53 to $55.
• FirstEnergy beat revenue expectations in its latest quarter, reporting EPS of $0.72 in line with estimates but revenue of $4.20 billion versus the $3.80 billion forecast, while also announcing a quarterly dividend of $0.465 per share.

Caxton Associates LLP lessened its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 34.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,513 shares of the utilities provider's stock after selling 36,890 shares during the period. Caxton Associates LLP's holdings in FirstEnergy were worth $3,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new stake in shares of FirstEnergy in the fourth quarter worth $123,018,000. BROOKFIELD Corp ON bought a new position in shares of FirstEnergy during the fourth quarter valued at $110,332,000. Boston Partners increased its holdings in shares of FirstEnergy by 13.5% during the third quarter. Boston Partners now owns 18,344,403 shares of the utilities provider's stock valued at $841,161,000 after acquiring an additional 2,185,400 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of FirstEnergy by 56.0% in the 4th quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider's stock worth $246,515,000 after purchasing an additional 1,977,504 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of 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 worth $81,699,000 after purchasing an additional 1,957,673 shares during the last quarter. Institutional investors own 89.41% of the company's stock.

Wall Street Analysts Forecast Growth

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

FirstEnergy Trading Up 0.3%

Shares of FE stock opened at $49.48 on Friday. 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 Corporation has a 12-month low of $41.17 and a 12-month high of $52.34. The stock has a market capitalization of $28.62 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.36 and a beta of 0.47. The firm's 50 day moving average is $47.09 and its 200 day moving average is $48.09.

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

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a $0.465 dividend. The ex-dividend date of this dividend 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 currently 101.09%.

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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