Fifth Third Bancorp Buys 400,399 Shares of FirstEnergy Corporation $FE

Key Points

• Fifth Third Bancorp increased its FirstEnergy stake by 998.8% in the first quarter, buying 400,399 additional shares and bringing its total holdings to 440,485 shares valued at about $22.3 million.
• Several other institutional investors also boosted positions in FirstEnergy, and 89.41% of the stock is now owned by institutions, highlighting strong professional investor interest.
• Analysts remain generally positive on FE, with a Moderate Buy consensus and an average price target of $52.23; the stock recently traded at $48.41 after FirstEnergy reported quarterly earnings in line with estimates and revenue above expectations.

Fifth Third Bancorp boosted its stake in FirstEnergy Corporation (NYSE:FE - Free Report) by 998.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,485 shares of the utilities provider's stock after purchasing an additional 400,399 shares during the quarter. Fifth Third Bancorp owned about 0.08% of FirstEnergy worth $22,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FE. Eurizon Capital SGR S.p.A. bought a new stake in shares of FirstEnergy during the 4th quarter worth $123,018,000. BROOKFIELD Corp ON bought a new position in FirstEnergy in the fourth quarter valued at $110,332,000. Boston Partners increased its stake in FirstEnergy by 13.5% in 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 during the last quarter. Victory Capital Management Inc. raised its position in FirstEnergy by 56.0% during the fourth quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider's stock valued at $246,515,000 after purchasing an additional 1,977,504 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in FirstEnergy by 11,305.6% during the fourth 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. 89.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FE has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating and set a $52.00 price objective on shares of FirstEnergy in a research report on Wednesday, June 24th. TD Cowen raised FirstEnergy from a "hold" rating to a "buy" rating and cut their target price for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $55.00 target price on shares of FirstEnergy in a research note on Tuesday, April 21st. Barclays increased their price target on shares of FirstEnergy from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Finally, UBS Group boosted their price objective on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, FirstEnergy has a consensus rating of "Moderate Buy" and a consensus price target of $52.23.

FirstEnergy Price Performance

Shares of FirstEnergy stock opened at $48.41 on Tuesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.52 and a quick ratio of 0.42. FirstEnergy Corporation has a one year low of $40.01 and a one year high of $52.34. The business's 50 day simple moving average is $46.45 and its two-hundred day simple moving average is $47.86. The stock has a market capitalization of $28.00 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 2.29 and a beta of 0.47.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. Analysts forecast that FirstEnergy Corporation will post 2.74 EPS for the current 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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