First Citizens Bank & Trust Co. Takes $19.46 Million Position in FirstEnergy Corporation $FE

Key Points

• First Citizens Bank & Trust Co. bought a new position in FirstEnergy during the first quarter, purchasing 384,056 shares valued at about $19.46 million.
• Institutional ownership in FirstEnergy remains very high, with several other funds also adding or building stakes; the article says 89.41% of the stock is owned by institutions.
• FirstEnergy’s latest results beat revenue expectations, posting $4.20 billion in quarterly revenue and matching EPS estimates at $0.72; analysts currently rate the stock a Moderate Buy with an average price target of $52.92.

First Citizens Bank & Trust Co. purchased a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 384,056 shares of the utilities provider's stock, valued at approximately $19,456,000. First Citizens Bank & Trust Co. owned 0.07% of FirstEnergy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FE. Eurizon Capital SGR S.p.A. bought a new position in FirstEnergy in the fourth quarter valued at approximately $123,018,000. BROOKFIELD Corp ON bought a new position in shares of FirstEnergy in the 4th quarter worth $110,332,000. Boston Partners boosted its position in shares of FirstEnergy by 13.5% in the 3rd quarter. Boston Partners now owns 18,344,403 shares of the utilities provider's stock worth $841,161,000 after purchasing an additional 2,185,400 shares during the last quarter. Victory Capital Management Inc. boosted 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. grew its stake in shares of 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 period. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

FE opened at $48.34 on Wednesday. The stock has a market cap of $27.96 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.32 and a beta of 0.47. FirstEnergy Corporation has a 12 month low of $41.03 and a 12 month high of $52.34. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 1.87. The company has a fifty day simple moving average of $46.89 and a 200 day simple moving average of $48.03.

FirstEnergy (NYSE:FE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share for the quarter, hitting the consensus estimate 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 company's revenue for the quarter 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, research analysts expect that FirstEnergy Corporation will post 2.74 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on FE shares. Weiss Ratings downgraded FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 17th. Wolfe Research cut FirstEnergy from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Barclays boosted their target price on FirstEnergy from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $55.00 price target on shares of FirstEnergy in a research note on Tuesday, April 21st. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $52.00 price target on shares of FirstEnergy in a research report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $52.92.

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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