Convergence Investment Partners LLC Makes New Investment in FirstEnergy Corporation $FE

Key Points

• Convergence Investment Partners LLC opened a new position in FirstEnergy during the first quarter, buying 25,553 shares valued at about $1.295 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 89.41% of FirstEnergy’s shares.
• FirstEnergy reported Q1 EPS of $0.72, matching estimates, while revenue came in at $4.20 billion, above expectations and up 11.6% year over year.

Convergence Investment Partners LLC bought a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,553 shares of the utilities provider's stock, valued at approximately $1,295,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in FirstEnergy during the 2nd quarter valued at about $25,000. Olistico Wealth LLC purchased a new position in shares of FirstEnergy in the fourth quarter worth about $31,000. DV Equities LLC purchased a new position in shares of FirstEnergy in the fourth quarter worth about $33,000. Quest 10 Wealth Builders Inc. lifted its holdings in shares of FirstEnergy by 507.9% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider's stock worth $34,000 after purchasing an additional 640 shares during the period. Finally, Summit Securities Group LLC lifted its holdings in shares of FirstEnergy by 148.0% during the fourth quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider's stock worth $35,000 after purchasing an additional 2,376 shares during the period. Hedge funds and other institutional investors own 89.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on FE. Weiss Ratings lowered FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 17th. Morgan Stanley reissued an "overweight" rating and set a $52.00 price target on shares of FirstEnergy in a research report on Wednesday, June 24th. Wolfe Research cut shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Jefferies Financial Group increased their price objective on shares of FirstEnergy from $50.00 to $52.00 and gave the stock a "hold" rating in a research note on Tuesday, April 21st. Finally, TD Cowen raised shares of FirstEnergy from a "hold" rating to a "buy" rating and cut their target price for the company from $56.00 to $53.00 in a report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, FirstEnergy presently has an average rating of "Moderate Buy" and an average target price of $52.92.

FirstEnergy Trading Down 0.4%

FE stock opened at $48.34 on Wednesday. The business's 50-day moving average is $46.89 and its 200 day moving average is $48.03. FirstEnergy Corporation has a 12-month low of $41.03 and a 12-month high of $52.34. The stock has a market cap of $27.96 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.32 and a beta of 0.47. 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 issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.72. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same period in the previous year, the company posted $0.67 earnings per share. The business's revenue 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, sell-side analysts anticipate that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy 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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