Federated Hermes Inc. Has $93.39 Million Stake in FirstEnergy Corporation (NYSE:FE)

Federated Hermes Inc. grew its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 133,614.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,310,592 shares of the utilities provider's stock after acquiring an additional 2,308,864 shares during the quarter. Federated Hermes Inc. owned about 0.40% of FirstEnergy worth $93,394,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd lifted its holdings in FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after purchasing an additional 255 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in FirstEnergy in the first quarter worth about $27,000. TruNorth Capital Management LLC lifted its holdings in FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after purchasing an additional 490 shares during the period. Bernard Wealth Management Corp. acquired a new stake in FirstEnergy in the fourth quarter worth about $31,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in FirstEnergy in the first quarter worth about $40,000. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analyst Weigh In

FE has been the subject of several research analyst reports. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Evercore ISI boosted their price target on shares of FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Guggenheim boosted their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Finally, Mizuho boosted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, FirstEnergy currently has a consensus rating of "Hold" and a consensus price target of $46.08.

Insider Activity

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total transaction of $516,360.00. Following the sale, the chief financial officer owned 99,919 shares in the company, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the sale, the chief accounting officer owned 183 shares in the company, valued at approximately $7,680.51. The trade was a 98.50% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

FirstEnergy Trading Up 1.1%

NYSE FE traded up $0.48 on Friday, hitting $43.19. 5,117,832 shares of the company were exchanged, compared to its average volume of 5,029,208. The company's 50 day moving average price is $40.70 and its 200-day moving average price is $40.63. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The firm has a market capitalization of $24.93 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. FirstEnergy had a return on equity of 11.40% and a net margin of 9.31%. During the same quarter in the previous year, the company earned $0.56 EPS. Analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 7th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, August 7th. FirstEnergy's payout ratio is presently 94.68%.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.