Corient Private Wealth LP Raises Position in FirstEnergy Corporation $FE

Corient Private Wealth LP increased its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 79.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,100 shares of the utilities provider's stock after purchasing an additional 67,266 shares during the quarter. Corient Private Wealth LP's holdings in FirstEnergy were worth $7,231,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of FirstEnergy by 4.1% during the 4th quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider's stock worth $241,000 after purchasing an additional 213 shares during the last quarter. Simplicity Wealth LLC raised 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 worth $346,000 after purchasing an additional 223 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of FirstEnergy by 5.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider's stock valued at $209,000 after buying an additional 223 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in FirstEnergy by 44.4% in the first quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 232 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of FirstEnergy by 3.7% during the fourth quarter. Allworth Financial LP now owns 6,778 shares of the utilities provider's stock worth $303,000 after purchasing an additional 241 shares during the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FE. UBS Group raised their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. TD Cowen upgraded FirstEnergy from a "hold" rating to a "buy" rating and cut their price target for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Weiss Ratings downgraded FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 17th. Morgan Stanley lowered their price objective on shares of FirstEnergy from $53.00 to $52.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Finally, Barclays dropped their price objective on shares of FirstEnergy from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $52.83.

FirstEnergy Trading Down 0.1%

Shares of FE stock opened at $45.84 on Monday. The business's fifty day moving average price is $47.88 and its 200 day moving average price is $48.30. The firm has a market capitalization of $26.52 billion, a PE ratio of 24.38, a P/E/G ratio of 2.19 and a beta of 0.46. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. FirstEnergy Corporation has a 1-year low of $42.87 and a 1-year 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 EPS for the quarter, meeting analysts' consensus estimates of $0.50. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the company earned $0.52 earnings per share. As a group, sell-side analysts forecast that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Announces Dividend

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 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 4.1%. FirstEnergy's dividend payout ratio (DPR) is 98.94%.

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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